Re: Wife or girlfriend or close friend as realtor? - Posted by Carmen_FL
Posted by Carmen_FL on November 05, 2000 at 16:11:54:
I am a Broker, and the only reason I got my license was so I would have access to the MLS. I have no interest in doing “realtor-type” work (showing houses, etc.) My husband has a company through which we put offers in. He always lists me as the selling realtor. This is not a bad idea, as long as your girlfriend/wife doesn’t mind going through all the trouble and cost of getting the education.
As for working under a broker - in Florida, you must be under a broker for a year before you can become a Broker yourself. I found a few brokers who, as long as you listed your license with them, didn’t care if they never saw you again. These brokers were not the “big name” firms; they were one-man shows and not very good brokers, at that - I learned nothing from them. But they served their purpose. For the year I was a Realtor under them, I saw them only when I delivered the checks from the closings, and then only to collect MY part (all checks were made out to the broker). I’m sure, if that’s the way you want to go, you could find some of these guys out there too.
You must understand that there are costs involved in getting into this, though - the classes, and a yearly MLS fee (here in Florida it’s $600+ a year). Also, Errors and Ommissions insurance, which most brokers make you pay for yourself (and, of course, you have to pay for yourself once you’re a broker).
It may also be possible for you to access the MLS through an “associate” membership to the Board of Realtors - call information to find the one(s) in your county, and ask their membership director - that way, no one has to get a license. However, you also would not get any commission. But you could put offers in directly to the selling agent.
Take all of this into consideration before going out and getting a license. I’ve never regretted it; even one little commission on a rehab more than makes up the costs of getting and keeping the license.