I was a branch manager for a couple years a while back in one state. I've done purchases in 2 states. Rules vary greatly over time and by jurisdiction, but this is what I would have said then and there: 1) Yes you can be a part time agent. You get few, if any, breaks on the fees, classes, insurance, and hundreds other business expenses. Can you afford a couple thousand a year? 2) An agent (yourself) can give the buyer (yourself) some or all of their commission to closing costs and other fees. Confirm with your lender and broker if it works for them, however. Some brokers take a commission off your fees and don't take kindly to them disappearing. Lenders want to know you can stand on your own and some programs have rules about this. Also talk to an accountant to see if it has tax implications. 3) All your paperwork has to go through the brokerage, then the title company (some states require an attorney on each transaction). The broker is on the line, too, if you do something wrong. If a seller chooses to be unrepresented you should have it in writing. 4) If you are going to be your only client, think carefully. You have to declare in the contracts that you are a licensed agent and if you ever get sued for a real estate issue the courts will have a much higher standard for you to bear as a professional. 5) If you expect to have other clients and rake in the bucks part-time, know that the median income for a full time agent is only about $42k as of March 2020.
No matter how it's portrayed on TV, being an agent is not easy or instantly lucrative. In most cases you only get paid if you close a transaction; no hourly wages or salary. You get generally get a 3% commission. It can be feast and famine. Many succeed; many, many more do not. Talk to agents in your area to see how the market is, what they do and don't like about their career choice and their broker. Best wishes whatever decision you make.
