All Forum Posts by: Jordan Lagrassa
Jordan Lagrassa has started 18 posts and replied 67 times.
Post: Last steps in becoming an agent
- Temple, TX
- Posts 68
- Votes 7
I thought there was just one test after you complete the educational hours (160 for Texas I believe) then you get your license followed by a sponsorship? The way you explained it leads me to believe there are 2 tests
Post: Last steps in becoming an agent
- Temple, TX
- Posts 68
- Votes 7
I couldn't find any information on how long you need to practice real estate under the sponsorship of a broker ? I'm familiar with the steps before this but not after you pass the exam
Post: Spouse as a real estate agent.
- Temple, TX
- Posts 68
- Votes 7
Originally posted by @Jeff B.:
Presumption is an agent has more knowledge and experience and thus might easily manipulate the sale.
Personally have no experience here and not a qualified CPA so consult a professional for a qualified opinion...
- Caution: File separate Taxes. An agent gets the moniker of the IRS status of "DEALER" and on a joint filing, that can adversely impact the tax results. She declares RE earning plus whatever is uniquely hers, but you take the REI plus your W2 et al separately. You *may* need to hold the titles also personally, so here name is not on any transactional data.
Yes I have heard of people doing that. Thanks for all the good information
Post: Spouse as a real estate agent.
- Temple, TX
- Posts 68
- Votes 7
Originally posted by @Brandon Battle:
I don't think it is a big deal to anyone if your wife is using her license to do the paperwork and close the deals on your behalf.They only thing you have to be concerned about is if she is also representing the seller and trying to buy the property for yourselves.Conflict of interest.
Very good point. I didn't think of that
Post: Spouse as a real estate agent.
- Temple, TX
- Posts 68
- Votes 7
Iv heard from some where before that as a real estate agent you have to disclose this when buying a property? Why is this, what kind of trouble can you get in with this, lastly do I have to disclose that my wife is an agent and I am buying the property?
thank you !
How do i run comps for a certain area? Is this something i have to ask my RE agent to do everytime, or is there another way to get some good information?