Would you recommend becoming a agent?

Question

Im sure this topic has been gone over a million times but i just finished my classes and wasnt sure if going and becoming a real estate agent would be good or not since im mostly just wanting to get into buying and renting out although being an agent would give another source of income i didnt know how much it affects people wanting to rent from you since you are an agent

Alan Brymer · Answer

I have not seen much use for it, as I've always gotten agents to pull comps and list houses for me.

But since you've already taken the classes, it sounds like it's a question of how long to keep it.

You could make some extra money listing and selling your own houses yourself.  But ask yourself if $1000 is worth the effort, since that's all you're saving (I've always found good flat-fee agents to list and sell my houses)

You could list other people's houses or be their buyer's agent, but is that what you really want to do?  I don't think it would be worth it unless you do it full-time and build a real business.  Otherwise, make investing your side business in addition to whatever you do full-time.

Also, I haven't heard of anyone not wanting to rent a house from someone who happens to be an agent.

James Hiddle · Answer

Most do it for access to the MLS but I say why bother. You can either have other realtor's access the MLS for you or you can find better deals elsewhere.

Bernie Germani · Answer

Chris,
You pose a great question, and I wanted to give you my thoughts. I'm a licensed CA Realtor, and have been for a few years now. Ethics are a big deal for Realtors here in California, for instance we( Realtors) can't be involved in a subject 2 deal, as this would jeopardize our code of ethics. I sell Real Estate as my 8-5 job, and my investor hat is played after that time, and I try to obtain deals as an investor not a Realtor. There is a lot of red tape for Realtors to try and use their license for investing. I love my real estate license becuase it provides a nice paycheck when selling homes, or closing loans but at times I feel it is not allowing me to have real wealth from an investor standpoint... If I had to do it over I might not get the license.... I hope that helps you out, or it may have confused you more....hahahaha

Christian Malesic · Answer

We will save you a little trouble:

See these threads:

Realtor License?

and here

Don't Rely on Agents - Become One

Tony L. · Answer

My suggestion is not to become an agent.  It cost money just be an active licensed real estate agend and if you want to be classified as a Realtor you will have to join their organization for another $500.  There are many cost to working in the real estate industry.  I am a licensed realtor and have been so since 1977 but have resently hang up my license to work more on my own investing rather helping others.  It takes time even when your an agent to find properties so why not just use other agents to do the ground work, you can use as many as you want but you may find 2 or 3 that do a really good job for you.  IF you become an agent you will always have to disclose this on all your transaction.

T

Michael Ueltschey · Answer

This is a great question that I have contemplated myself.  I know some wholesaler's that are brokers. They make around $2500.00 every time they buy a property.

Considering they make $3,000 when they wholesale the deal that adds a lot of profit margin to the transaction.

I am interested in the pro's and con's of this strategy.