Should my wife get her real estate agent license?
My wife and I are about to start investing in real estate (small multi-family properties), and we are toying with the idea of having my wife (homemaker) get her real estate agent license to represent us as the purchasing party in real estate transactions. The objective is to have her collect the ~3% fee. However, as I do more research it appears that this might not be as simple as I thought. Apparently she cannot work independently and would have to be sponsored by a broker and they would receive the majority of the fees. So now I'm thinking she should go for her brokers license. Does this make sense? we're looking to purchase 1-2 homes per year. Is there a better strategy?
Thanks guys!
Most Popular Reply
If you find a a company who gives you 100% commission and all you have to do is pay for the MLS and a desk fee it might be worth it depending on the purchase price. I would do some research on which companies pay 100% commission in your local network and understand their model before your wife becomes a realtor. This way you can run the pros and cons to give yourself a better idea.