Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Agent
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

922
Posts
533
Votes
Jim Goebel
  • Real Estate Investor
  • Des Moines, IA
533
Votes |
922
Posts

Investors getting Real Estate License to Purchase - Questions!!!

Jim Goebel
  • Real Estate Investor
  • Des Moines, IA
Posted
  1. 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.
  2. 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.
  3. 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?
  4. 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

User Stats

3,042
Posts
1,770
Votes
Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
1,770
Votes |
3,042
Posts
Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Replied

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
business profile image
Realize Property Management Group
3.8 stars
13 Reviews

Loading replies...