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Updated almost 5 years ago on . Most recent reply

Account Closed
  • Property Manager
  • Smoky Mountains, TN
20
Votes |
48
Posts

Buying House Out of State as Real Estate Agent

Account Closed
  • Property Manager
  • Smoky Mountains, TN
Posted

I'm applying for my California real estate license right now and I want to invest in an out of state home (maybe Pittsburgh, Alabama, etc --- lets assume the state does not have a reciprocity license). Normally, if I buy a house in-state, I would be able to get the buyer agent's commission, but since I don't hold an out of state license, if I buy a house there how would that work? 


If I end up using an agent -- would I be able to get an agent referral fee for "referring myself"? If I don't use an agent, could I still get the buyer agent's commission? In general, a question to all real estate agents out there who are buying out of state -- how do you do it? Does your license give you any advantages?

Thank you!

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Jeremy Taggart
  • Real Estate Agent
  • Pittsburgh, PA
569
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756
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Jeremy Taggart
  • Real Estate Agent
  • Pittsburgh, PA
Replied

@Account Closed If you are investing across the country I'd focus more on just finding someone you can trust to help you navigate the area. You'll make way more money (and prevent yourself from losing money) that way than any comission or referral fee. To get a referral fee you'd have to ask the agent helping you buy a house to give you a referral fee for using them which might be kind of awkward. Plus they'd likely not prioritize you since they would be getting less commish from you compared to other clients. You definitely will want boots on the ground whether it be an agent or someone you know there that knows the area. 

  • Jeremy Taggart
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