REAL ESTATE AGENT AND INVESTOR-WHERE CAN I HANG MY LICENSE?

Question

I have a bit of a dilemna, I am a licensed Real Estate agent in California, in addition, I also perform real estate deals such as wholesaling, co-wholesaling, fix and flip etc, in an effort to build my own business and learn as much as possible about this career. I am in need of finding a Real Estate Brokerage in Southern California, Orange County area where I can hang my license and still pursue my investment deals. I obviously also plan to work as a every day agent, getting listings and selling or buying any deal that comes along for the brokerage. Most brokerages I have spoken with or interviewed with either will not allow me to continue with the investing under their brokerage, (that is just their policy) or want a large cut (25% or more) for each deal that I complete.

Is there any brokerge out there in Southern Californnia, that would be great to work with and learn from?

Thanks

Richard

Is there any brokerge out there in Southern Californnia, that would be great to work with and learn from?

Thanks

Richard

Richard Licon · Answer

Great ideas from all, I will pursue as suggested

Thanks!

Olga Roginkin · Answer

Hi @Richard Licon, I am an agent with Keller Williams here in North NJ. I think KW is a great company, for both new and experienced agents. KW knows that many agents like to work with investors and they help you with that.

The most important advantage of being part of the KW system is having access to the enormous amount of training they offer. Trining will propel you to the strong start in the industry.

One huge benefit to being part of KW is working in a large office. For example, we have more then 300 agents in our office, who freely exchange info and deals all the time.

You probably can tell that I like my company :))

My suggestion is to interview at different brokerages, large and small in your area. The more you meet with hiring managers or brokers, the more understanding you will get of what is important for you, land what to watch out for. I will be happy to put you in contact with  team leads of the KW office in your area.

Joe Homs · Answer

@Richard Licon

Here is my two cents on hanging your license.

1.  Hang you license as close to where you live.

2.   What do you plan on doing with it?  Either buy/sell real estate for  clients or do you want to use it for yourself as an investor?  Either  way you need to have a mentor, so make sure you have someone that you  can call night and day to help you with your goals.

3.  Everyone  wants to save on commissions, but remember 100% of nothing is still  nothing.  There is a learning curve to this profession, so you should  expect to pay for that until you gain more experience.  I train agents  from other offices to be successful, but its really up to them.

4. Costs: Usually in Orange County your MLS fees are about $900 a year. If you want a Supra Key its about $25 a month, some brokerages charge E&O fees, some charge a desk fee, etc. So ask the questions and check them out.

If you are interested in joining my team let me know and we can speak over a cup of coffee.

Where ever you end up good investing...

Mark Pedroza · Answer

@Richard Licon

Small CA state accredited real estate schools in your area have corked bulletin boards that r.e. company's including small mom & pop office's advertise for new agents.

Take down names and numbers and set up interviews.

Good luck.

Richard Licon · Answer

Hi Joe:

I goal is to work for the brokerage like any other agent and make money for the brokerage and myself, in addition I want to build my real estate investing business by continuing to pursue wholesaling, co-wholesaling, working with cash buyers, working with motivated sellers, fix and flips etc, this is not to say I want to keep all the proceeds to myself, I know there is still a learning curve I will go through and I am fine with that, I just want a reasonable split or possibly flat fee for deals I am involved with. I totally agree that I will want to have the opportunity to call on my broker for help when there is a question on a deal, or if there are legal aspects that I need to remain in compliance. There is a lot to learn and I am more than willing to do just that, learn! and still perform.

I live in Coto de Caza and so Mission Viejo is my backyard as I am sure you know, I would be very interested in sitting down, meeting you and chatting over coffee about joining your office.

My schedule is pretty open this week

Thanks for your advice!

Chinmay J. · Answer

@Richard Licon - Find a smaller brokerage that allows you to keep large chunk of profit. The brokerage I am associated with in Virginia (Samson Properties) allows me to keep 100% of my commission. Their business model is that they make most of their money through the title company that they heavily promote. They are a local broker - not a national chain.  Alternatively, see if you can negotiate a deal to allow you to keep more of your commission after x number of deals.

You might just have to negotiate this one.

REAL ESTATE AGENT AND INVESTOR-WHERE CAN I HANG MY LICENSE?

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