Are there any of you out there who do short sales who are also a realtor in the state in which you do most of your deals? I am considering becoming a realtor and want to know if you have found it either helpful or hurtful to be a licensed agent. Thanks
If your gonna do it (no matter what it is) Do it right.Ask yourself this one question, Do I want to fill my investing tool box my self or do I want to lease my tools by paying commissions and fees?
One of the good things about being a realtor and doing short sales is that you can list the property while you’re trying to work the short sale. If you sell it that way you get your commission, if you don’t sell it you have even more of a case to present the bank.
Thanks for your input! Both comments make sense to me.
you can also get double commissions.
go on the short sale end and again when you sell it.
The only problem with this is that the banks usually expect the realtor to take a reduced commission during a shortsale, so in my opinion, it kind of defeats the potential of a shortsale.
For example, if you can reduce a home’s price by 50k through a short sale and sell it, then you just get a reduced commission and the end buyer gets a good deal. But your purpose should be to buy the house and resell it to gain back as much of the 50k that you can.
Any thoughts on this?
Also if you are a REALTOR®, you have access to the MLS to do your own comps, and possibly find distressed sellers whose listings have expired. HOWEVER, make sure you disclose every which way to Sunday that you are a licensed agent, but acting as principle when you buy/sell.