I'm trying to determine whether or not I should go to school to become a real estate agent. I'm a stay at home mom, my husband is a contractor and we currently dabble in real estate investment. We only own one property right now which we bought when prices were down, brought up to code/remodelled and will hopefully be selling soon now that the prices in the area have risen substantially. And if it goes well, we might do it again in the future.What I'm really worried about is... can one be a realtor and a real estate investor at the same time? Is it ethical for the same person to be buying, fixing up and selling the house?I'm not just doing this to save a few bucks on realtors fees... I'm generally interested in the real estate industry, revitalizing the neighborhood we live in and helping people find or sell their homes. I just want to make sure there isn't any legal or ethical issues at hand before I enroll in realtor classes or buy any other properties.Thanks in advance.
ok i'll have a shot at this. I'm a relator and will try to walk you through it and hopefully you can come to a good decision. First off yes you can be a real estate investor and agent at the same time, only you must disclose the fact to the Seller and their agent in WRITING before you buy . Secondly you said you wanted to be an agent to save on fees, well this won't be the case to be an agent you have to be assosciated with a broker, the broker owns the listing not you. Sometimes after you have sold a few properties you can sell one of your own without owing the broker a commision, but you'd have to working full time. To retain your licence you must work at least 235 hours per week, 40 weeks out of the yesr. Only way to avoid paying broker a fee is to become a broker to do this you need to have a college degree and 2 year real estate experience, plus proof of financial stability. Also make sure the school you intend to go to is approved by the real estate division in your state, and make sure you know where the testing centre is. Basic start up fees vary depending on the brokerage you decide to work for, varying from a couple hundred buck yo a couple of thousand, then you have relator membership fees, plus business licences and other levies placed by you state, city and muncipility, however if all this doesn't put you off it can be a very rewarding career. Be sure to check out your states education requirements and state specific laws as these vary from state to state by googling the real estate division and your state. I wish you the best of luck
I say go for it! My husband and I are also real estate investors and I plan on getting my license real soon. You will get access to the MLS, make some extra money, and save money upon the selling of your homes. Depending upon how you two are purchasing your properties, I wouldn't reccomend you both having a license. Good luck!
It is common for Real estate professionals to also be investors. Bear in mind that part timers generally don't make enough $$ to make it worthwhile. Real Estate sales is a complex and ruthless business inhabited by very aggressive people. For people who deal in residential realty much of the work is on evenings weekends. It takes most people years of full time effort to build up a business that will actually make any money.
I did it....I am also a security officer to supplement my income until I get a good foot-hold. There are some expenses that I did not take into consideration, but the pros beat the cons by a mile! I am happy I did this, the ability to set your own pace and pretty much your own hours, (just remember to always stay disciplined! I got lazy for awhile and it took me a few of weeks to get myself back on track....). I am a single mother which is the reason why I also hold another job. My security position is a stable position that I can count on to keep myself in the black financially....in case I did not make it clear why I am also regularly employed at the beginning of my post....I don't want you to think that I meant you will need to have a job to support your real estate career..... Good luck!
Pareto's Principle, 20 percent of the realtors are responsible for 80 percent of the results rings true in real estate. To be like your dad you have to be quite savoy to make $250,000 in real estate. Few do. 80% barley make a living. You have to be a self starter, good organizer and enjoy being in business for your self to be in the top 20%. Some are just born to work for others. Help your dad out in his business. Find out his path to success. If you like what you see give it a try. When I started out I had 2 listing a sale within 2 weeks and it never stopped. Others had a very hard time making a living , then others just up and quite. One thing I had was a sales plan/routine to get business and I worked it to death revising it when I had to. I also never stopped learning and reading about real estate (I really like the business). After 5 years or so over 1/3 of my sales were due to referrals. Life was good.
