Anyone else on here an agent?

i'm an agent in IN. you have won half the battle because you found a broker who has no problem with your investing. i put in my own offers and my brokers are willing to learn and work with me too. i like to be independent and plan on getting my broker's license this fall. (it's hard to find a broker class around here that is a good one.) i think the most important things are honesty and full disclosure. to be honest, i would not get my license if i had it to do over again because i think it can really get in your way. there are others who feel the opposite. since you have your license, you might as well use it to your full advantage.

Linda & Andy,

We're new here too. I've had my real estate license a long time and right now it's inactive and I'm set up as a referral associate. I can reactivate my license anytime. Do you think I should activate it so, I can have access to the MLS? I also was wondering if it would interfere with investing? As you asked Andy, how would you put in offers then? Looking forward answers. Thanks.

Cheryl & Dave

my first question would be: do you need access to the MLS? what kinds of deals will you be doing? i am able to submit my own offers and i would think you would be able to as well. you do have to disclose you are buying it for yourself and you are an REA, but that is no big deal. do you have a broker willing to hold the license of an REI? that is a huge deal. i've been fortunate enough to have 3 brokers willing, but there are many more that won't touch me with a ten-foot pole. they are afraid of anything outside of the box. they are terrified of L/O's, which i find hilarious. but, it can work for you and against you to have your license. you can't pay referral fees to anyone who is not licensed in IN, which really bothers me. i can't go after a house listed on the MLS that hasn't sold in months and is still just sitting there because i am a licensed realtor and can't go after another agent's listings, even if i really can help the sellers. really weigh everything out, especially since the cost to be an active agent is so expensive. will it benefit you and your business? will it help you reach your goals? if so, re-activate it. if not, you won't miss it and can find an REA to work with if you need one. does that help you any?

Linda,

Thank you. We just joined the academy and are new starting out. We're planning to do assignments now. We are starting to build a buyers list and then plan on finding motivated sellers. We are in the process of finding a agent to work with us. I thought we found one who advertised they are willing to work with "out of the box" investors. However, they haven't been available for the last few weeks. So, I was thinking it might be easier to get information on our own as a agent. Thanks for the pros and cons. It really helps and I appreciate it. It's something we'll need to think about.

Cheryl

Thanks Linda, so what kind of deals do you do. Have you done any contract assignment while licensed? Maybe I could PM you on here. (never done it)

I am a Realtor in Oklahoma and the cool thing is that you can buy a REO property listed on MLS and pay yourself a commission too. The advantage of being a broker is to be independent and not sharing a commission with any other broker.

I have a license in Mass and I find it simple to find brokers willing to work with an investor minded agent. It's usually the national chains (coldwell, century 21, etc.) that may have a problem with it, although kw seems to support it as well. However, I've found that most brokers invest in real estate themselves!

My past broker was a partnership in boston (50+ agents) who didn't charge me any fees, no support either, and spent all their time pursuing triple deckers around the area. They were young and really fun to be around, and I even learned a great deal from their rehabs and renting out their apartments to sect 8 tenants. The reason I left is because I found a broker who now provides me with 100% commission as I just pay him $100 a month and a nominal per transaction fee. I have the same freedom as before with more commission dollars to invest with, although I kept the relationship with my past broker.

I don't see any negatives to having your license. In fact, it should help position you as an expert/professional who knows the area and about real estate to sellers and other professionals. It's important to note that I am also not a member of NAR which I know holds realtors to higher level fiduciary responsibility. This may or may not affect your investment activities.

I recommend reading Insider Investing for real estate agents by Walter Sanford. He is a successful investor/agent with an investor mindset who created a great system and combined lead generation to support both businesses. It's really a great read!

Alex,

Thank you for your recommendations. We really appreciate it.

Tom & Jeri,
Thank you for your info also.

Linda,
Thanks again.

Andy,

Thanks so much for posting your agent questions.

Cheryl & Dave

I am a Realtor/Investor in PA and I feel it helps me to have my license. I feel that having it adds legitimacy and a layer of integrity in the eyes of sellers and buyers, as I won't do anything that my broker won't approve of and that would get my license yanked. Perception is everything, even if it's not the truth!

Great comments.
I'm licensed in Arizona, let my Colorado one go.

Cheers