Investor w/ RE License and Brokers

[Selina Rothweiler]

Hello everyone and Happy New Year! I am an investor and I recently just passed my RE state exam for my license. In my midst of talking to Brokers to hang my license I am forthright with them in the fact that I am also an investor and I will continue to do deals under my LLC on my own time and that I have company insurance. I let them know that I work with full transparency and will always let anyone I speak to know upfront that I am a licensed RE agent but I am working with them solely as a private investor and not as a RE agent. With the 3 Brokers I spoke to thus far all said that's fine but they have to approve my deals first. Can anyone comment on the Brokers stating they have to approve my deals first? For I am not looking for their approval or allowing them to dictate what deals I can or cannot do under my own LLC. Is this the norm with investors that have a RE license and Brokers? I am going to continue to meet with other Brokers but I'm not liking what I hear so far. Thanks in advance for your input.

[Catherine Emert]

Selina,

I think that depends a lot of the state laws. In Oregon, even though you are licensed and can conduct your own sales since your license is hung with a managing broker (Oregon term) they have to review all documents for all their agents within 7 days. Here in Oregon we are all Brokers and then there is the Principal Broker who has to review everything we do as brokers in the office.