Nashville; Where to hang my hat as an investor!? Help!
Most Popular Reply
Jonathan Taylor SmithBusiness Member
Rental Property Investor · Durham / Raleigh (Triangle), NC · Member since 2015 · 841 posts · 802 votesI started with KW for that exact reason of wanting a local broker that I'd have access to. But I eventually ended up with eXp Realty (an online virtual brokerage) largely because they allow me to promote my own agency brand, while giving me all the tools.
Blue Chariot Realty & Management4.915 Reviews
6 Replies
- 3yJonathan Taylor SmithBusiness MemberRental Property Investor · Durham / Raleigh (Triangle), NC · Member since 2015 · 841 posts · 802 votes
I started with KW for that exact reason of wanting a local broker that I'd have access to. But I eventually ended up with eXp Realty (an online virtual brokerage) largely because they allow me to promote my own agency brand, while giving me all the tools.
Blue Chariot Realty & Management4.915 Reviews - Real Estate Agent · Nashville, TN · Member since 2015 · 2k+ posts · 2k+ votes3y
Quote from @David S.:
Hey BP community, I just passed my TN license and will be moving to Nashville soon. I need to buy my primary but will also be doing some light flipping.
Having trouble finding a brokerage to hang my license with. If I have to, I’ll go the discount brokerage route, but I’d rather pay a bit more and have a local broker to bounce questions off of and to allow me to better network in a new market.
Anybody have recommendations? Also, if you’re thrilled with your online discount broker, I’d love to hear it as a plan B!Thanks!!
I'm with Zach Taylor RE. Chose it just because of the low fees. The lowest of any brokerage out there. All I needed was the formality of having a broker.
Come to find out they offer SO much to their agents. I highly recommend you check it out.
We have non stop training, guest speakers, CRM tools included, etc.
Quote from @Luka Milicevic:
Quote from @David S.:
Hey BP community, I just passed my TN license and will be moving to Nashville soon. I need to buy my primary but will also be doing some light flipping.
Having trouble finding a brokerage to hang my license with. If I have to, I’ll go the discount brokerage route, but I’d rather pay a bit more and have a local broker to bounce questions off of and to allow me to better network in a new market.
Anybody have recommendations? Also, if you’re thrilled with your online discount broker, I’d love to hear it as a plan B!Thanks!!
I'm with Zach Taylor RE. Chose it just because of the low fees. The lowest of any brokerage out there. All I needed was the formality of having a broker.
Come to find out they offer SO much to their agents. I highly recommend you check it out.
We have non stop training, guest speakers, CRM tools included, etc.
Luka,
Does Zach Taylor RE allow an investor to own their investment properties under an LLC or Trust? I'm talking to Benchmark at this time, and they do not allow that; Something to do with the fact that you can't manage properties, so they have to be under your own name.
Also, do they have an onboarding requirement for new agents where they take a split for the first number of deals done, since new agents need extra mentoring?
Benchmark is a tad more expensive, but not excessively: $439/transaction and $75/mo. But they also have a $160 Broker Base Commission, which in this case is charged to me as an investor, so perhaps there is a decent difference with ZT. ZT shows $299 per transaction and $99/mo. Is that pretty well the entire picture or are there other fees to consider that are not mentioned there?
I'm only likely to do about 4-5 transactions a year, so the difference isn't massive, but still $300 more per transaction with Benchmark from what I'm seeing while $300 cheaper in monthly fees per year. Would love any insight you can offer!
Thanks!
- Real Estate Agent · Nashville, TN · Member since 2015 · 2k+ posts · 2k+ votes3y
Quote from @David S.:
Quote from @Luka Milicevic:
Quote from @David S.:
Hey BP community, I just passed my TN license and will be moving to Nashville soon. I need to buy my primary but will also be doing some light flipping.
Having trouble finding a brokerage to hang my license with. If I have to, I’ll go the discount brokerage route, but I’d rather pay a bit more and have a local broker to bounce questions off of and to allow me to better network in a new market.
Anybody have recommendations? Also, if you’re thrilled with your online discount broker, I’d love to hear it as a plan B!Thanks!!
I'm with Zach Taylor RE. Chose it just because of the low fees. The lowest of any brokerage out there. All I needed was the formality of having a broker.
Come to find out they offer SO much to their agents. I highly recommend you check it out.
We have non stop training, guest speakers, CRM tools included, etc.
Luka,
Does Zach Taylor RE allow an investor to own their investment properties under an LLC or Trust? I'm talking to Benchmark at this time, and they do not allow that; Something to do with the fact that you can't manage properties, so they have to be under your own name.
Also, do they have an onboarding requirement for new agents where they take a split for the first number of deals done, since new agents need extra mentoring?
Benchmark is a tad more expensive, but not excessively: $439/transaction and $75/mo. But they also have a $160 Broker Base Commission, which in this case is charged to me as an investor, so perhaps there is a decent difference with ZT. ZT shows $299 per transaction and $99/mo. Is that pretty well the entire picture or are there other fees to consider that are not mentioned there?
I'm only likely to do about 4-5 transactions a year, so the difference isn't massive, but still $300 more per transaction with Benchmark from what I'm seeing while $300 cheaper in monthly fees per year. Would love any insight you can offer!
Thanks!
The fees you listed are the fees.
No onboarding cost, no initial commission until you get to X amount. It's the same from day 1.
The monthly cost also covers your E and O insurance plus marketing tools plus CRM. There is a lot they give you for the monthly fee. It's not just an "office fee"
There are genuinely no hidden costs that I have been charged.
I also haven't heard of any brokerage requiring you to own properties in your own name. That doesn't make a whole lot of sense to me. Mine are in LLCs and I've had no issues from any broker
- Investor · Nashville, TN · Member since 2014 · 14 posts · 2 votes3y
Hi David, check out Reliant Realty ERA Powered. I've been very happy with the balance between commission split and services provided by the brokerage. I can put you in touch with the brokers to get your LLC questions answered. 615-631-0910
Quote from @Luka Milicevic:
Quote from @David S.:
Quote from @Luka Milicevic:
Quote from @David S.:
Hey BP community, I just passed my TN license and will be moving to Nashville soon. I need to buy my primary but will also be doing some light flipping.
Having trouble finding a brokerage to hang my license with. If I have to, I’ll go the discount brokerage route, but I’d rather pay a bit more and have a local broker to bounce questions off of and to allow me to better network in a new market.
Anybody have recommendations? Also, if you’re thrilled with your online discount broker, I’d love to hear it as a plan B!Thanks!!
I'm with Zach Taylor RE. Chose it just because of the low fees. The lowest of any brokerage out there. All I needed was the formality of having a broker.
Come to find out they offer SO much to their agents. I highly recommend you check it out.
We have non stop training, guest speakers, CRM tools included, etc.
Luka,
Does Zach Taylor RE allow an investor to own their investment properties under an LLC or Trust? I'm talking to Benchmark at this time, and they do not allow that; Something to do with the fact that you can't manage properties, so they have to be under your own name.
Also, do they have an onboarding requirement for new agents where they take a split for the first number of deals done, since new agents need extra mentoring?
Benchmark is a tad more expensive, but not excessively: $439/transaction and $75/mo. But they also have a $160 Broker Base Commission, which in this case is charged to me as an investor, so perhaps there is a decent difference with ZT. ZT shows $299 per transaction and $99/mo. Is that pretty well the entire picture or are there other fees to consider that are not mentioned there?
I'm only likely to do about 4-5 transactions a year, so the difference isn't massive, but still $300 more per transaction with Benchmark from what I'm seeing while $300 cheaper in monthly fees per year. Would love any insight you can offer!
Thanks!
The fees you listed are the fees.
No onboarding cost, no initial commission until you get to X amount. It's the same from day 1.
The monthly cost also covers your E and O insurance plus marketing tools plus CRM. There is a lot they give you for the monthly fee. It's not just an "office fee"
There are genuinely no hidden costs that I have been charged.
I also haven't heard of any brokerage requiring you to own properties in your own name. That doesn't make a whole lot of sense to me. Mine are in LLCs and I've had no issues from any broker
Thanks Luka. I spoke with Zach and will be sitting with him in the office on Wed morning for a meet and greet. Interesting what he's looking to do with title work too, which only makes it a better option yet, potentially. Benchmark is also requiring the highest level of E&O on my end, which doesn't really make sense for me since I'm not looking to produce to begin with. In the end the savings add up substantially with ZT.
Thanks again for you input. I'm sure we'll cross paths in the near future. Have a great week!
Join the conversationCreate a free account to reply, vote on answers and follow this thread.