Just got my real estate license.. now what!!!??

7 Replies

Hello everyone, 

So I currently work full time and love my job. But i also love real estate. I just got my real estate license, and plan to use it in order to buy and sell my own properties, and occasionally represent a friends/family. What brokers can I work with that are agent friendly? What can I expect in terms of monthly fees? Is this smart? Any advice would be appreciated. 

Thanks,

Jeremy

Hi @Jeremy Lee I was operating my own brokerage but joined KW last year and its been great.  If you'd like to hear about what Keller Williams has to offer I can help, won't know much about other brokerages though.  Keller Williams is well known for their training and success of their agents.

Also as a generic statement I've found that about 1 deal a year and you'll break even on what it costs to maintain you license.  Could be a little more or less depending on the split of the brokerage you end up with.

Hey Jeremy,

Did you ever find out the answers to your questions? I will be in the same boat after March...I like my job and would love to do real estate in between my shifts(I'm shift work). Brokers? Fees? Smart?

Originally posted by @Jeremy Lee :

Hello everyone, 

So I currently work full time and love my job. But i also love real estate. I just got my real estate license, and plan to use it in order to buy and sell my own properties, and occasionally represent a friends/family. What brokers can I work with that are agent friendly? What can I expect in terms of monthly fees? Is this smart? Any advice would be appreciated. 

Thanks,

Jeremy

 Jeremy, 

I spoke with an agent/investor (25/75) last week who is sponsored by KW and he was telling me that any personal or direct family deal would be only $250 for an unlimited number of transactions. He said that other local brokerages would do the same for one deal a year and require the regular split after that one transaction. I met up with him through a local investor group, but I suggest going in and sitting down with 2-3 brokers and tell them what your plans are and align yourself with a win/win relationship. 

@James Barnes It's smart in a sense. I met with a few brokers, and they were more looking for someone who wanted to do it full time. I think moving forward, it will be smarter for me to look into discount brokers. Someone who I can just hang my incense under as use it for what I want. As long as I am paying my dues, I should be okay. Also another idea that was brought to my attention was to find a full time agent that you can trust and work with, and when I buy or sell houses through him/her. Ask for a referral fee. This will limit some of the things I want to do (IE: access to MLS, represent myself, etc.), but just another idea/option.

I probably will be looking for that broker who is okay with me just being under them and doing my own thing. Worst case would be to just be licensed, and try to get referral fees for my purchases/sales.

Hmmm. I'll look into the discount brokerage thing. I'm still pretty uneducated on the fees and such a brokerage charges the REA. I wonder if these discount brokers exist in Maryland ...

I would definitely utilize the license to find distressed sellers that want out fast. Make sure and follow disclosure rules.

Did you decide on a broker yet?

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