OfflineI just recently received my real estate license but I am more interested in investing in homes rather than listing and selling at this point. The question is should I actively pursue these homes (Foreclosures. REOs Short Sales. etc. ) as a licensed realtor or should I work with an experienced agent? Are there any advantages or disadvantages such as commission benefits if I was one the buy the home (as an agent). Do I need to disclose to the agent that I am licensed or does this only ccme into play when you are selling your own home. I would appreciate your feedback so I can start pursuing these deals.
__________________
I became licensed for a few different reasons. I didn't want to leave any money on the table when dealing with a listed property from another Realtor and I wanted access to the MLS and to do my own comps.
However, if you are licensed, most states require to disclose it on every contract. If you do not and it comes down to a court situation, you would most likely lose that battle because you would be considered the professional and courts would see you as taking advantage of an innocent person who doesn't have your knowledge. If you disclose that you are licensed on every deal be it buying or selling, that protects you and your contracts.
Steve
Congratulations on your license. I have recently earned mine and plan to be active as a Agent as well as a Investor. Commission advantages are that you can negotiate your to apply your commission to the deal. Good luck!
Jimmy
Congratulations on getting your license. As others indicated that are many benefits to having your license such as listed above. You shoudl always be transparent and inform everyone you are licensed when making offers, even on FSBOs.
One of the greatest benefits you may have is the ability to run your own comps and be able to access properties quickly. If you are associated with a broker's office and call to view a property, as another licensed professional you can scheule an appointment to see properties rather quickly and not have to wait on the availability of the listing agent.
I would consider with listings to let the listing real estate agent have all the commission for the sale, because your real profit will come in the acquisition of the property not the commission. The more happy relators you have working with you will pay great dividends in the future. Good luck with investing. Believe and Achieve!
- Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Honesty is the best policy. Disclose, disclose and disclose. Joe, Jimmy and Steve have given you some good advise. Good luck and wish you the best in your real estate investing!
Lloyd
I am interested in getting by RE license and glad 3BL asked this question. Great advice and insightfrom all. Thank you very much.
Michel
Thank you everyone for your responses. I figured that would be the right answer and this now helps me continue forward in my pursuit of investing in homes.