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Updated about 6 years ago,
Should I get a realtor license?
Been investing in RE for 12 years now (DC area). Started with a SFH renting bedrooms and now renting it to one family. Added 2 successive principal residences as I moved along. Nice portfolio because of low leverage but appreciation on former own homes is elusive (because bought at retail prices and nearby building frenzy). Eager to restructure the portfolio through 1031. My concern is transaction costs: if i were to sell all three and buy equivalent value, we're looking at 6% realtor commission each way.
Were I a realtor, I could be listing agent for my properties and save say 2% (listing commission 3% -half of the 6%- minus the broker's cut of about 1%) and possibly more if I were to work with a buyer not using another agent. On a $1 million portfolio, we're looking at anywhere between $20k and $120k (6% on the sale and 6% on the purchase). Nice chunk of change, not to mention I could possibly do regular deals for clients as well.
Does that make any sense? What's y'all's opinion? :)
TIA