Real Eastate Broker or Salespersons --a few questions - Posted by Joe

Real Estate Investing
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Posted by Eric (LA) on April 28, 2000 at 22:26:19:

John,

I am now in almost the exact same boat as you and Joe are - you are not alone on this. Just passed the test myself, and plan to activate my license by working under a Broker.
I too weighed the “To Be Or Not To Be” decision back & forth, and back & forth some more…lol. Until (with tons of help from this board), I resolved that, for me, right now, it is the best decision.

Many of the potential benefits and obstacles of becoming a licensee have been discussed here. Plus the fact that if most Realtors are indeed as ignorant (intentionally or unitentionally) CREI as many perceive, then Agents/Brokers with a creative, problem-solving outlook are sorely needed.

The main reason for me though, is that it will GET MY BUTT OUT THERE.
Let’s “Work to learn, not to earn.”

Much Success~

Eric

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Real Eastate Broker or Salespersons --a few questions - Posted by Joe

Posted by Joe on April 26, 2000 at 14:24:22:

I am in the process of finishing RE classes and will be taking the state test in 2 weeks, I plan to sell RE to generate an income while I look for property to buy as an investment. I am now unemployed ( by my choosing). I would like to know,

  1. What did you do the first 2 months after taking the test
    how did you obtain listings? I have a Co. that wants to
    take me on as an agent right after I pass the test.
    should I start to cold call pass out cards Etc: I am in
    an area were houses sell within days of listing. I would
    like to list 2-3 house what is the best way to get the
    listing.

  2. Did it become harder for you to buy property becuase you
    had to disclose that you were an agent.

  3. I feel like a newborn taking that first step I don’t
    mind falling down I just don’t want to smash my face.
    Any help that would take me through the next few months
    would be great.

Thanks, Joe

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Re: Real Eastate Broker or Salespersons --a few questions - Posted by Soraya

Posted by Soraya on May 01, 2000 at 12:39:18:

My dad’s is a Real Estate Broker. He tells me the quickest way to “learn the ropes” as a real estate agent is to work under a “TOP PRODUCER” for a year. Unless you are an exceptional person, it takes about 5 years to be making good money listing and selling real estate. Working with a “TOP PRODUCER” will take three plus years off that learning curve. HOWEVER, if you really want to make money in the real estate business, INVEST in real estate!! You don’t need credit or a lot of money to get started. Just persistence.
Soraya

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A Few Answers - Posted by Steve C., Remax

Posted by Steve C., Remax on April 27, 2000 at 15:07:41:

  1. First, the day you have your license, have a letter prepared (get your letterhead, cards, etc. right NOW. They take weeks to have printed.) and send it to everyone you know. Everyone, everywhere. Even people out of town can send you referrals.

Second, get this book: “How to List & Sell Real Estate in the 21st Century” by Danielle Kennedy. Read it now and do what she says. Pay particular attention to the section on FSBO’s. Almost all of my listings come from FSBO’s, and her program works.

Third, get connected to your local REI club and pass out cards. Let them know that you work with investors, because most realtors don’t. Don’t expect anything right away.

Fourth, get your but out of the office, unless you are cold calling for listings. You can’t sell if you’re not in front of someone.

As for investing, you have to be more careful as a realtor. Just disclose everything. And I mean everything. As many of the people on this board can tell you, doing business above-board is the only way to go. But people like to sue if you have a license, and courts tend to side with the person on the other side. Keep detailed notes, document everything and never assume the other guy will never go after you in court.

Now that you have the Surgeon General’s warning, just go for it. Realtors have advantages in terms of information, market knowledge and connections that a lot of other investors don’t.

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Re: Real Eastate Broker or Salespersons --a few questions - Posted by Steve C., Remax

Posted by Steve C., Remax on April 26, 2000 at 15:57:55:

Joe,

Rather than bore this board, shoot me an email and I’ll repond.

Steve C.

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I don’t think you’ll bore this board… - Posted by JohnAz

Posted by JohnAz on April 28, 2000 at 01:37:17:

There has been a few discussions in the past concerning the pro’s and con’s of having a license. I think you have touched on what was missing from previous threads. The “meat and potatoes” side of it.

I am headed to Phoenix in a matter of about 5 hours to turn in my paperwork and hopefully come back to my spot in the desert with the “ok” to act as an agent. So this topic does concern me personally.

I realize there are disclosure issues involved in having a license, however, I have yet to do a deal that disclosing I was an agent would have prevented me from doing. Sure I may offer 20k quick cash for a 60k house, but if they need the money and know they have a 60k house, and I tell them I’m a realtor out to make a profit and admit in writing that there house is worth more I see no problem. Desperate sellers are just that…desperate!

What you have touched on is what I have found to be most disheartening on this subject… ACTION!!

I’m a lazy person, I’m a procrastinator, I’m easily content, anything that will motivate me to go out and find deals is good for me. If it takes getting a license to realize what cold calling is, and door knocking is, and networking is then I have already found it to be worth it’s measily cost.

While getting “personaly” involved with the broker I intend to work under I have had two deals pretty much handed to me just due to the realization by the broker that I am a serious buyer. As only an “investor” I really didn’t get the service I deserve. But now as as soon to be agent I’m suddenely taken seriously. Is it worth the cost? In my case I know it far surpasses the cost and concern over disclosure. If you are out there hosing people on deals then maybe a license isn’t for you, however, if you are an honest person I don’t feel it has any bad effect on your future.

The benefits to this board of this discussion are simple. Most people when focusing on and gearing up for ANY new direction will put forth 110%. For me this has meant my realization of my weakenesses and need fo study in those areas. In doing so I have put forth the extra effort to identify my weak areas and focus on developing those areas. I’m a shy person, I don’t like talking to strangers, or to groups of people. In researching what it takes for realtors to be successful I’ve identified my weaknesses, and obtainded informatin to overcome them. I have to admit that for the past couple weeks I have seen that had I identified and corrected these weaknesses I would have most likely decided not to get my license.
However, it took my desire to get a license to dig deep enough to figure all this out.

I believe there are many others in my spot. Looking for what it takes to become more successful. If you have the inner strength and discipline to do it on your own…more power to you. I for one need direction and determination to move from my comfort zone.

So please continue with what it takes to be successful as an agent. I think if more of us could see those things we would be able to see what it takes to be successful without the license. I know I would have.
I do know there are already alot more people taking me seriously as an investor because I’m becoming “one of THEM.” I’ve already had agents ask me just how do you do deals like this and that, when a year ago they were telling me I couldn’t do them.

Sorry I’ve rambled, but this is a touchy subject with me. Of course I have to defend my stance, but as always I’m wide open to other views, and I think all readers of this site can use the information.

JohnAz

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Re: Real Eastate Broker or Salespersons --a few questions - Posted by Jason

Posted by Jason on April 26, 2000 at 21:57:33:

I am also fixing to get my RE License as well. I basically have the same goals that Joe has. Any Advice?