I just signed up for pre-licensing courses to get my RE license and I'm wondering if I'll have a hard time getting sponsored by a broker if I'm going to use my license solely to help with investing? My guess is no since the broker doesn't have to pay me unless I make a sale, but I'm not sure and was hoping to get some clarity on this.
Also, would my sponsoring broker get a cut of the commissions on both the buy and sell side?
Thanks in advance!
Hi @Niklas Hilmoe , I don't think it will be too difficult to find a brokerage to hang your license with. Usually, the smaller, independent brokerages will have more flexibility but don't have the training programs. Maybe that isn't a big deal for you since you are mostly going to be doing your own deals.
Yes, they will be taking a cut on both sides of the transaction. It is usually 20%-30% of your commission. There is usually an annual cap of $15k-$20k on that.
Hi Niklas, if you have Homesmart there, just put your license with them, easy and you can do all your own deals and only pay out around $300 to them each deal.
@Brad Hammond okay, thanks for the clarity!
@Peter Foreste I'll look into it. Thank you!