Metro Referral Associates as alternative to broker if I just want MLS access?

[Shera Gregory]

I am considering getting my real estate license to be able to get access to the MLS and bid on HUD homes. But I'm not too keen on having to get a broker affiliation since this is all I'm interested in. I am hesitant both because I am not planning to be a "real" agent and because of the ongoing fees. The business model offered by Metro Referral Associates in several East Coast states seems like it could be a good in-between option. They offer lower price access for agents that don't want to sell. Does anyone have experience this this group?

[Maureen Hannan]

Hi Shera Gregory,

I'm also about to get my real estate license (Virginia in my case)--with the same intent as you. I have found a broker who is happy to have me affiliate with him for a flat fee (the exact amount of which we are still working out). I told him upfront that I have no intention of schlepping clients around on Saturdays--that I'm just doing this to advance my RE investment portfolio. He's fine with that.

I found him by first talking with a real estate flipper I'd heard about in the area. The flipper had worked extensively with the broker on purchasing flips, so I knew he was investor-friendly. (It's also a small town where a lot happens via word of mouth and reputation.) I asked to take both of these guys to lunch (the flipper and the broker) to pick their brains about the local market and how they have worked together to accomplish so many profitable deals. I mentioned over lunch that I was working on my RE license for investment reasons, and the broker immediately offered to talk with me about affiliating with him on my own terms.

I plan to buy my first property in that town through this broker (with him receiving his 3 percent just as in any typical buyer-agent transaction). I won't yet have my license in the timeframe I want to make the first purchase in, and I want to build a good working relationship with him. If all goes as I hope (and I like working with the guy), the broker affiliation will be a mutually beneficial thing that will also connect me more solidly with that local market.

We shall see how it goes. But I thought sharing my process might be somewhat helpful to you....

Good luck!
Maureen