I have my license, but how do I get started buying with it?

[Kathryn Daniel]

I'll start by saying that I am a FT property manager for a nationwide property management company, and they sponsor my real estate license. I've had my license since 2013 but haven't done anything with it. I see the benefits of being licensed when purchasing properties and want to put it to use and also have MLS access (this isn't really an option with my current sponsor). I currently own 2 houses but used an agent for those purchases.

So, my question is, how do you know which RE brokerage firms are "investor-friendly?" Since I currently work FT for someone else, I need flexibility and the ability to work under a sponsor, have MLS access and be able to learn how to prepare a contract. Does anyone have any tips on how to find a good sponsor and what steps I need to take to put my license to work for me when I purchase my next property? At this point I am obviously not confident enough to use my license, and not even sure that I could use it for purchases with my current sponsor.

Thank you in advance!

[John Thedford]

If you are currently licensed, you can purchase anything that is listed. You are bringing the buyer (yourself) and will earn a commission for bringing the buyer. If you run into a bargain on off market properties, you won't use your license to earn a commission. More than likely, you will need to disclose your licensed status in any listed or off-market property transaction. I just had an offer accepted yesterday and it was off-market. To cover myself, I put something to this effect in the contract: "purchaser is a licensed sales agent, buying for their personal benefit, below market, and with a profit motive. Consult your attorney." Though this is a bit more explicit than "buyer is a licensed real estate agent" I feel putting in the additional terms makes my motive 100% clear and would make it nearly impossible for a seller to claim they were not "informed" or some other claim that they were not fully informed.  As to your question of how to pick a brokerage, interview them. Write out questions that are important to you and submit those to different brokerages to find out which might be the best fit for you. Use that license! You paid for it. You got your education. You earned it.