Posted by Redline on June 03, 1999 at 16:09:18:
Arie - You missed the point. Read my post above to Anthony about him getting his RE license and you’ll see where I stand in all this.
My post here below was in response to Mike who suggested it was easy to get a brokers license. My point is - it’s not easy in all states. Certainly not in mine. Whether or not you, we or he likes realtors or brokers was not the gist of the message.
RL
Should I become a real estate agent? - Posted by Anthony Gatlin
Posted by Anthony Gatlin on June 02, 1999 at 15:52:05:
I have an opportunity to become a real estate agent. I like the idea of having full access to the MLS system. What are the pros and cons? My main goal is to do creative real estate deals.
Thanks.
Anthony
Re: Should I become a real estate agent? - Posted by Redline
Posted by Redline on June 03, 1999 at 12:40:24:
Anthony -
I agree with Bill. I did exactly what you’re thinking of … I became an agent.
Yes it gives me MLS access and I get all the juicy RE gossip about who’s buying what and making more money than me at it … but all in all I find it limits you big time. Now you have to tell the WORLD your licensed every time you do ANYTHING in RE. Leaves you open to getting sued by everybody. You also will have to deal with your broker (who wants to get paid regularaly) and with all the blank stares and smirks when your coworkers eventually discover you want to do “CREATIVE” real estate … yeah that goes over REAL well.
I’m now seriously considering getting RID of the license and I’m sure one day soon I will.
RL
Re: Should I become a real estate agent? - Posted by Bill J. Gatten
Posted by Bill J. Gatten on June 02, 1999 at 17:04:57:
Can we handle the Pros first…
Being a licensed Realtor gives you credulence when you are discussing real estat matters with someone who doesn’t have a real estate license. It also… well… it … I know there are some other reasons too, but let’s discuss the cons.
It costs money.
It gives everyone something esle to sue you for and take away from you.
It gives you the right to have your name published statewide everytime you are involved in any kind of infraction of the DRE regulations.
It gives everyone the right to claim you cheated them because of your professional status and technical accumen, and superior knowledge of the industry.
It encourages you to sell RE and make enough to pay the bills (left side of quadrant) versus owning RE(right side of quadrant) and paying your great great grand children’s bills.
Its gives you the right to share everything you earn with your beloved Broker.
It deprives you of the right to charge Locator Fees.
It give you zits and makes your hair unmanageable.
Dont do it! If you want the same benefits without the expense, just paint a bullseye on your butt.
Bill
Re: Should I become a real estate agent? - Posted by Mike McBee
Posted by Mike McBee on June 02, 1999 at 17:47:45:
What a great follow up. I’ve been saying the same thing for years. Also, as a realtor you don’t have the bragging rights of a BROKER…haven’t you ever noticed that brokers insist on telling you that they’re brokers: “Look, I know what I’m doing…I’m a BROKER”
Give me a break.
What do you need to be a broker? Not much. A college degree, a sharpened number two pencil, and 70% accuracy on a multiple choice exam.
Again, great post Bill.
Re: Should I become a real estate agent? - Posted by Redline
Posted by Redline on June 03, 1999 at 12:34:50:
Here in NJ you cannot be a broker without first being a 3 YEAR FULL TIME re agent. (25 years part-time doesn’t count). You must also sell $x of RE in those years and take 175 hours of course work and a 3 hour test.
RL
Re: Should I become a real estate agent? - Posted by Arie O
Posted by Arie O on June 03, 1999 at 15:33:51:
Redline–
But does that make you any more able to do Real Estate Deals? NO!!!
It just means you have helped others sell property. My experience is Realtors and especially Brokers want their 6% and no risk. They think 90K for a 100K prop is a deal. Only for the Realtor.
Stay away from a license unless the law comes and tells you you need one.
Bill is right. It is only a liablity.
Mike is right. Realtors just wanna tell you how much they know and how little you know. Brokers are just bigger Realtors.
I’ve yet to find a broker who wanted to find out how I price my offers. They just want to tell you you can’t do what I do.
Arie O