Fort Myers Beach, FL · Member since 2016 · 225 posts · 124 votes
For those investors that have your real estate license in Texas to assist in MLS searches, contract writing, viewing units in the MLS, I'm trying to figure out if the upfront education costs, ongoing expenses for re-education, broker fees, access to TREC forms, MLS fees are worth it if I only purchase one property a year.
Any estimates on this business expense per year, a realtor friend said she thinks she spends about $3600 a year, but that seemed a bit high.
1. Depends on what you're doing with that one property. Buy/Hold? Flip?
2. Everyone has free access to TREC forms, not just agents.
3. Are you only purchasing MLS listed properties?
If you're licensed and buy one property from the MLS per year at $200K, you can possibly earn 2% to 3% commission on the buy side. If you also sell that property, you can save 2% to 3% on the sale side.
1. Depends on what you're doing with that one property. Buy/Hold? Flip?
2. Everyone has free access to TREC forms, not just agents.
3. Are you only purchasing MLS listed properties?
If you're licensed and buy one property from the MLS per year at $200K, you can possibly earn 2% to 3% commission on the buy side. If you also sell that property, you can save 2% to 3% on the sale side.
1. Depends on what you're doing with that one property. Buy/Hold? Flip?
2. Everyone has free access to TREC forms, not just agents.
3. Are you only purchasing MLS listed properties?
If you're licensed and buy one property from the MLS per year at $200K, you can possibly earn 2% to 3% commission on the buy side. If you also sell that property, you can save 2% to 3% on the sale side.
Doing buy and Hold so the 3% commission savings on the buyers side
Are the TREC forms free for rental leases in Texas, do you have a link to them? I want forms to create new leases this summer
I search other means to get houses, but its nice to have the MLS for comps, and general pricing information, also shows open house listings which I go to sometimes to network with realtors.
TREC does not promulgate lease agreements...TX. Assoc. of Realtors does have lease forms but those aren't available to the public via website. Once you're licensed and a member of TAR, you'll have access to all 130+ forms TAR offers.
Your up-front education and licensing fee will be around $2000. Monthly costs will depend on which brokerage you work with and how much you want to pay for marketing. Check out this by @Mark Ferguson for a good overview.
Your up-front education and licensing fee will be around $2000. Monthly costs will depend on which brokerage you work with and how much you want to pay for marketing. Check out this by @Mark Ferguson for a good overview.
Good luck!
thanks for the mention! Costs vary greatly depending on the state as well