I’ve read a post a few weeks ago which asked the question “Should I get my realtor’s license”. Now there were mixed replies. Since I just recently obtained my license, I’d like to focus on the people on this board who do as well. I recall someone posting (I’ll try to dig this up) saying that they have their license and it hasn’t inhibited their ability to invest. I’d like to know I can make this work for me as well. I’ll take preforeclosures for example. If i meet with these people, I have to disclose to them that I’m a real estate agent. How can I do so w/out scaring them away? How can I accomplish getting a good deal on the house w/out breaking the ethics of “getting the best price of the home for the seller”.
This is just a small example, I’m sure there are other’s in which being a RE agent requires you to do things a little differnetly. Please share these situations and resolutions (or work arounds) here.
When investing: Disclosing the fact you have a Real Estate License shouldn’t be a problem for you (it’s never been a problem for me).
If someone is mistrustful or doesn’t want to deal with you because, you have a RE License…simply move on. There’s so much opportunity–there’s just no sense in wasting your time with suspicious or apprehensive people.
Moreover, your investment style will probably vary from others who post here regularly. Having a real estate license–you’ll see much more opportunity than a typical investor.
Example: I run into rehabber’s who’s investment tool is to; purchase a distressed property, rehab it, and sell sometime later at a profit. Those featured on the television program “Flip This House” are prime examples.
But, what if you could locate properties that weren’t distressed at all, priced slightly below market in areas about to appreciate significantly, and you didn’t have to do any work. All you’d need to do is clean, mow and find a renter for a short period. Would you be interested in this investment vehicle if you could make as much as the rehabber’s (or more) without all the work? Only difference is…you’d have to become a landlord for a period.
If your answer is yes…a real estate license, and working in the industry will give you an extremely competitive edge. The knowledge & experience you’ll gain over time could make you a very successful investor, and bring you financial independence.
Yeah I think I said something about if you are a realtor and it works for you keep doing it. If you are a realtor and it does not work for you change it. And if you are not a realtor and it is not working for you try it… It is all personal preferance.
And the Buyer pays the realtor!! Not directly but yes the Buyer pays the realtor!
Infowell, I appreciate your reply and sorry to hear that you’re no longer active on this board due to this highly debated issue. From your reply, I take it you don’t really deal with preforeclosures. I have no problem altering my style compared to other investors, I’m searching for a system that can work for my situation. Would you mind elaborating a little on the types of investments you primarily deal with (besides purchasing a little below market value and renting out) and also what you do differently compared to REI’s who do not have their RE license.
In the strictest terms, the BUYER pays the Realtor fees (because the funding for the transaction comes from the buyer and his sources) but in reality, the seller pays. The Seller has a contract with the Realtor and a legal responsibility to pay the commission. If the commission does not get paid, see who gets sued!
If you carry this idiocy to it’s natural conclusion, the Government pays the commission because that’s where the money really comes from…
Will do…in fact it appears that’ll be the only way I’m permitted to respond.
“If you carry this idiocy to it’s natural conclusion, the Government pays the commission because that’s where the money really comes from…”
Right you are.
Cut/Edit Here
The kind of silly logic applied to this topic causes one to question the validity, and credibility of the posters in question. How reliable can their other writings and information be?
Well then why don’t we say the federal reserve pays the realtor because they print the money!
See now we agree!!!
Lets get back to the main topic here Infowell I have no prob. with you this is the only topic I did not agree with you on and $Cash$ did not agree with you on that is what is fun about this we can disagree on topics!!
Yup…I posted again for Ryan & others…if they want my input they need to contact me via private channels.
No need for me to defend my credibility…I’m not the one with something to sell on this site…you are.
You’ve chosen to engage me in debate, and that endangers your credibility…especially when you choose to argue who pays the agents commission (all the readers have to do is read HUD-1 for themselves).
Moroever, when you feel the need to edit my posts…that means you’ve run out of rationale proof to support your viewpoints, and feel the need to cut & edit.
I’d let me bow out again if I were you…otherwise your potential clientele might come to realize silly viewpoints on this topic might mean silly viewpoints contained within the products you’re trying to sell.
I edited your post because you were out of line in your comments, trying to defend your position with “I am being picked on by the Moderators”.
Yup…you posted again and lied when you said you were not going to post anymore, you said it I did not and because you are unable to defend your position without using the smart Johnny Cash crap.
I have thousands of students in all 50 states, Canada and Europe as a matter of fact, I do one on one mentoring via telephone, email and a website. I first took off my manual which was a number one seller on all the sites it was on because I felt that I had enough students to keep me busy.
I left my course for sale only, which soon I will stop selling and devote my time to my present students. So now that we have eliminated my potential client base and product to be sold, you still cannot defend your position with your threat to me of letting you bow out.
You were already out when you said you were not going to post anymore and took to name calling and feeling picked on by Moderators. No moderator deleted or edited your posts in “the who pays the agents post”, you just picked up your marbles and did not want to play anymore. This shows a lack of conviction to me on your part or maybe you thinking the majority of posters are right so I should bow out.
“This shows a lack of conviction to me on your part or maybe you thinking the majority of posters are right so I should bow out.”
It wasn’t a lack of conviction on my part, but rather a growing realization that I was wasting my valuable time debating such obvious matters as “who really pays Agents commissions”, and defending the real estate profession on a increasingly regular basis.
“I have thousands of students in all 50 states, Canada and Europe as a matter of fact.”
And yet you appear to be to be spending more & more time engaging me! I should think you’d be too busy for this nonsense as well.
May I suggest we continue this debate in person? Perhaps @ one of your seminars, or in a classroom setting? (assuming you speak publically).
That would make for an intereste tete-e-tete now wouldn’t it?
Given enough time…I’m sure I could fit it into my schedule.
You really should quit and stop uisng the name Infowell and re-register under the name of Drywell, because if what you posted is the best you have then for certain your well has run dry.
) could be of some help. Anyone else can feel free to answer as well though.