All Forum Posts by: Anna Kash

@Anna Kash

In LA, the commission is generally 2.5% - other states, 3% is common. there are top agents who sell very expensive property that can ask for more

As far as schooling, no one is ever going to ask you or judge you by which school you took your courses at. I'd search for something either convenient, offers value, and has remote options - I think that's legal, and works for you. You want to learn and you want to be prepared for the test. There are youtube videos and services like ExamPrep that can help you get ready for the exam once you've completed the courses 

@Anna Kash I’m a pharmacist too. Looking to also invest in real estate. Best luck on your journey :)

@Anna Kash

The commission part - that is a strategy and a reason. Factor how many properties a year you will purchase and or sell, factor that in to the costs and time of being licensed. There should be a return on investment here too. If you buy one property every 3 years, might not make sense, know what I mean? 

There are a lot of ways to use the commissions. In a hot market, offer your percentage to the listing agent - that might move you to the top of the offers, use it in on repairs in escrow, forfeit it for lower purchase price, credit the seller, roll it back into the principle, or into the next property. The broker can take anywhere from 10% of commissions - I've heard as high as 45% but usually around 35%-40% for new agents. There are smaller brokers and other ways to get this done rather than joining a large co like Remax, Rodeo, etc. Some of the fees surrounding your license are renewals, MLS, Supra, "Realtor" dues, which are mandatory for the full time agent, some might not in your case. For you, if it weren't for your plan to use your license in your own purchases and sales commissions strategy, I'd say skip it - since you don't intend on becoming an agent for hire, which is a ton of full time work. But since you are incorporating the license into your investing plan, get it and find the right broker. It will cost something. Or become a broker! Either way, once you start investing, you might find that friends start asking you to be their agent

As far as self study, the information is out there. The courses and exam are organized for you, but totally possible to learn on your own - the info is out there. You must complete the required courses to be eligible for the exam so self study isn't an option per se if you decide to get licensed. If you choose the self study route with no intention of taking the exam, start by looking at the core modules of the agent courses, and start following that trail. The information is out there, you'll have to track it down and put it all together. If you decide to get licensed, not just to learn, but to use it in your investing (seriously), find a school near you

Your friend means well but that is false. Being licensed can be a great part of your strategy, however, figure out how being licensed will benefit you, how the pieces will fit together for the end game. You don't need to be licensed to buy or sell your own property. If you're licensed or unlicensed, will determine how you negotiate buyer side commissions. If you're a licensed agent, you'll need to hang your license under a broker. 

Depending on your plan, you might not need to be licensed. If you're just looking to learn the process, the knowledge is out there. If it's something you might get very serious about, maybe time to pursue it. 

What are your ultimate goals as of now?