broker investor team - Posted by HC

Posted by BTI on July 10, 2007 at 08:06:55:


Before I make a suggestion, I would need to know exactly what your wife doesn’t like about real estate brokerage, a full and honest answer, the more specific the better.

Secondly is she actually a broker or a licensed real estate salesperson that has to work for a broker?


broker investor team - Posted by HC

Posted by HC on July 10, 2007 at 06:18:34:

Hi Everyone

My last post got deflected onto another subject. I know it happens sometimes. If the only real answer to my question is to buy a Blue Pen course then I’ll consider.

Just in case someone has some great ideas for me on this subject I’ll try again.

Anyone open for a brainstorm session? I need inspiration.

I am very actively marketing and having some success with RE but am spread a little thin these days. I am a General contractor but allocate most of my time for investments.
My wife was doing the investing with me but decided to get a brokers license just for the education and has now veered off in the direction of Brokering residential properties, which she does not really like.
So we are brainstorming how to team up and use her brokers license to take us to the next level.

  1. The obvious advantage of MLS access, having her list our resales, and act as a buyers agent are great but I feel like there may be some more powerful recipe for success possible here.
  2. I am getting a constant flow of properties that are discounted but not investment grade deals, which I assume could be referred to her legally and ethically? Maybe I should be getting simple options then having her market them?
  3. If anyone has examples of brokers/investors who have a really great notable system for leveraging their licenses please let me know.
    I know every broker calls them self an investor so I am really seeking something unique. A niche in the market so to speak.


Re: broker investor team - Posted by Natalie-VA`

Posted by Natalie-VA` on July 10, 2007 at 09:49:08:

My husband and I have been full-time investors for over 7 years. I also have a RE Broker’s license. I found that I really don’t enjoy the brokerage activities and that we get more bang for our buck by me focusing on deal-making instead of brokerage. I will keep my license for access to the MLS, saving money on commissions and keeping up-to-date on the law; however, I no longer take on clients.

I think it comes down to how your wife wants to spend her time along with what activities have the most return.

Hope this helps.


Re: broker investor team - Posted by Penny

Posted by Penny on July 10, 2007 at 08:57:03:

It sounds like you are active in several areas. The definition of the “next level” for you should be in your business plan.

I don’t know your market, so I am not going to give specific advice in that direction.

However, I would suggest a current analysis of your development, investment and brokerage activities to determine where you are most successful versus time spent. You may have already found your niche but it is obscured by the variety of activities you have going on.

Identify your strengths and weaknesses. This should shed some light on how to best utilize your wife’s license. Are there areas where a lot of time is spent for not much return? Maybe your time is better spent on the areas that yield the best results and it is time to stop doing some things that aren’t producing results. This should be feeding into your business plan updates - a roadmap to get to the next level and beyond.

You say your time is spread thin. One way to expand in business is to leverage Other People’s Time. There are pros & cons of hiring employees versus independant contractors depending on your business needs.

If you are spread thin, are there routine tasks that you could hire an assistant to delegate to? What are the key tasks that require your time or your wife’s time versus things that need to be done that do not require your level of expertise? If you are using $100/hr time (yours) to do $10/hr tasks, then hiring some help is one approach to help you focus your time on the most cost effective tasks. Consider hiring people who like to do the things that you don’t like to do, e.g. assistant for your wife in the brokerage activities.

Another thought is to look at your business processes. They should be written down and/or have checklists for others to follow - this helps with delegating when a business expands. Can you automate some of your marketing and analysis tasks using software or other office tools to free up time and improve your efficiency? Can some of it be delegated or outsourced? Are there things you continue to do because you’ve always done them, but you could stop doing them and have no impact?

Sometimes, in order to get to the next level, you can’t do it all by yourself. At the risk of sounding like a business seminar junkie, there is the working hard versus working smart approach.

Best of luck, hope this helps.