Posted by Greg Az on January 08, 1999 at 11:14:00:
I started as an investor and decided to get a license for the same reason as you. I was tired of relying on a nother realtor to find “deals”. Although being a realtor has some drawbacks., eg., disclosure requirements, etc, on the whole, it has been a great move. I flipped 4 properties last year and got commissions on both ends, increasing my net.
New salesperson finding an investor/broker - Posted by Alex
Posted by Alex on January 07, 1999 at 22:13:16:
I’ve decided to stop trying to find success in real estate by giving brokers a chance to understand what fix 'n flip (and other types of investments) are about and to find me those types of properties. I’ve decided the best way to use the MLS is to get a license myself. I’m taking Real Estate Principles, the one class required (in my state, Calif.) before taking the test to get the conditional salesperson’s license.
The thing about being a salesperson in any state is that you have to work under a broker in a brokerage. You have to take several more classes and pass the broker’s test to get the broker’s license, and then work on your own.
So what I’m wondering is this. Are any of you out there (in the general L.A. area, though I’d consider other areas) brokers/investors, who truly understand what real estate investing is about? Or perhaps you know a broker/investor? Or maybe at least you have some ideas of how I can proceed?
What I’m looking to do is be a real estate agent who would be happy to buy/sell the standard owner-occupied houses for the commission (the majority of real estate transactions), but I’d also like to work with investors (rental properties and other types of investments), and maybe work with a broker who wouldn’t mind if I did some investments for myself. I think working with a broker/investor over the long term would be mutually beneficial since the broker would get more business while I could get a good head start as an agent.
Of course I could work with the average broker (such as the instructor of my class), but that would make it harder to use the MLS for investments while working the standard deals. Suggestions?
Thanks,
Alex R.
Re: New salesperson finding an investor/broker - Posted by Rob FL
Posted by Rob FL on January 08, 1999 at 20:01:41:
I did the same thing back in 1995-96. I placed my license with a broker referral company. Many brokerages have them. Just call around and ask the brokers if they also have a referral company. This allows you to keep your license with the broker while not having to actually sell properties.
I signed with a broker for 1 year (the minimum in FL). I saw my broker one time. The day after I got my license. Never saw him again. I went ahead and jumped through all the other educational hoops and got my own broker’s license. Now I have my own real estate brokerage company (that I run out of a spare bedroom). I am a one man show. And I access the MLS from my bedroom/office and no longer have to answer to anyone when I buy and sell.
Best wishes.