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Updated almost 8 years ago on . Most recent reply
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Investors getting Real Estate License to Purchase - Questions!!!
- How does the technology work - can we just drop by and get access to a listing with eKey without calling or requesting a show time? What is the usual method? We typically buy distressed REO properties so they are vacant. I'm a little familiar with the 'request a time' technology because I FSBO'd a listing.
- If Rachel (wife) gets her license can I work as an agent assistant and get access to properties? What about putting in offers? We are considering which of us is the better person/fit to get the license.
- How do we go about finding brokerages that would be in line with what we have to offer/etc? I'd assume some brokerages would be perfectly fine with having us under their wing if they got some % cut of the buyers' commission and don't have to do much of anything. We did about $450k in purchase prices last year and closed on 6 properties. Are geared up to continue/grow, too. What is a fair/competitive offer for % of the buyers' commission that we'd share?
- If we disclose early on to a broker that we would like to start our own brokerage down the road would this be a positive/negative, or what? What advantages would we have in doing this?
Most Popular Reply
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Brandon Sturgill
Property Manager
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- Real Estate Broker
- Columbus, OH
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1. It depends. (what @Mindy Jensen said)
2. Unsure in your state, but the MLS's I am aware of are tightening restrictions on "assistants" using MLS...an unlicensed individual is not permitted the same liberties, like managing property, submitting offers, or showing properties...and violations may lead to loss of licensure...just be careful
3. What @Mindy Jensen said
4. Disclosure is not necessary...this is usually a pretty long and difficult road to qualify to sit for the broker exam...but guessing you will need to practice for a couple years before you can become a broker (this is state specific, though)
Good luck! @Jim Goebel
- Brandon Sturgill
- 614-379-2017
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