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Updated about 2 years ago,

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742
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Jeremy H.
  • Rental Property Investor
  • Lafayette, LA
966
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742
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Have you gotten your RE license? Expectations from your RE agent?

Jeremy H.
  • Rental Property Investor
  • Lafayette, LA
Posted

Quick background:

I currently work full time in the oilfield and starting investing in RE about 2 years ago. I've done several LTRs that have all required rehabs and purchased a new primary home that was a foreclosure. So I'm really not involved in the "business".

I had a RE agent for my first purchase but found out he was representing another buyer for the same property this is unethical to me). A few months later he advised me not to make an offer unless it was 15k over ask...property ended up selling for 5k under asking. I was planning to offer just a couple thousand under ask.

Used another for a HUD home purchase - she was very sweet and nice but signed me up for the MLS listings like most of them do. Had 3 others that did the same thing. These are all local agents. (I have had a different experience with out of state agents)

Then did a couple off market deals you could call "lucky" just by networking and meeting people. Turned my first primary house into a rental. 

That being said - about the middle of this year I decided to become an RE agent myself - easier to put in frequent low offers and view properties on my own. The paperwork is fairly straightforward, the marketing, materials, vehicle etc is all deductible. Goal for 2023 is to start putting in 3 offers a week then get to where I'm doing 5-10 offers per week. 

So my question really boils down to - Did you start out as a RE agent, become one, or decide to leave that part of the business to your RE agent? If you use an agent what's your expectation of them (as far as bringing you deals, timing, advice etc)? Do you think being an RE agent has benefits or negatives? Just your overall thoughts on using an RE agent vs becoming one.

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