Rental Property Investor · Tampa, FL · Member since 2018 · 35 posts · 16 votes
I'm looking to find a brokerage that I can hang my license with that will allow me to just deal with my own investments and family transactions. Wondering how common these type of relationships with brokers are and also where to find them. I'm not currently licensed but I'm already deep in the books and I'm trying to formulate a plan for after I complete the state exam. I'm planning on house hacking a 2-4 unit and wanting to represent myself as the buyer for my first deal as an agent. Am I too ambitious to close my first deal on my own investment property or do you think that they would help me through it?
Real Estate Agent · Miramar Beach, FL · Member since 2016 · 285 posts · 245 votes
3y
@Bryce Kennebeck With eXp Realty, you are allowed 3 personal transactions per year where you do not have to pay any commission split to the broker. You'd only be responsible for a small set of standard fees which are unavoidable (and of course your closing fees/costs since it's a deal for yourself). I'm sure other brokerages have similar policies, just a matter of either researching them online or calling around.
For your first deal representing yourself, I would recommend finding an experienced and savvy agent within whichever brokerage you're working with and asking them if they would help you as a co-agent with your first transaction for a split of your commission. Maybe offer to give them 20% of your commission, but try to do everything yourself before asking them for help. Have them QA your documents, contracts, etc. and walk you through whatever little nuances arise during escrow.
Real Estate Agent · Miramar Beach, FL · Member since 2016 · 285 posts · 245 votes
3y
@Bryce Kennebeck With eXp Realty, you are allowed 3 personal transactions per year where you do not have to pay any commission split to the broker. You'd only be responsible for a small set of standard fees which are unavoidable (and of course your closing fees/costs since it's a deal for yourself). I'm sure other brokerages have similar policies, just a matter of either researching them online or calling around.
For your first deal representing yourself, I would recommend finding an experienced and savvy agent within whichever brokerage you're working with and asking them if they would help you as a co-agent with your first transaction for a split of your commission. Maybe offer to give them 20% of your commission, but try to do everything yourself before asking them for help. Have them QA your documents, contracts, etc. and walk you through whatever little nuances arise during escrow.
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Go with a brokerage that is entrepreneurial and is filled with investors. You will find that there will be a lot of deals circulating within the brokerage before it ever leaves to the public
Real Estate Agent · South Florida · Member since 2022 · 85 posts · 42 votes
3y
Hey @Bryce Kennebeck, I would look into REAL. Just like exp.. no monthly fees or anything. A lot of opportunity to grow especially if you opt for the stock option. Let me know if you need more details and I can send them over. Worth looking into at least.