All Forum Posts by: Eddie Hernandez

Just to chime in, the Florida Department of Business and Professional Regulation has a similar search tool where you can verify a license and see the status of a licensed Real Estate Agent or Broker.

http://www.myfloridalicense.com/dbpr/

Welcome @Valeria Valdes.  I'm also from Miami.  We have lots of South Floridians on BP which is an amazing place to network and learn.  Good luck in your RE investments.  Let me know if you need any assistance.

Hi @Nelson J Castillo,

Welcome to BP.  I'm from Miami as well.  Looks like you are on the right track.  I don't have any particular book recommendations but it sounds to me like you may already know most of what you need, especially if you've read the blogs and listened to the podcasts here.  Let me know if you ever need any real estate help.

Good luck!

@Abhilash Joseph, I say go for it. You will have access to the MLS to find your own deals and be able to represent yourself in RE transactions. The only drawback is you will have annual Realtor association dues to pay but as long as you are active and making commissions off your own deals (and the deals of others like friends/family) you'll easily cover that cost. You will also be getting a great education in the process. Good luck!

@Jerome Harrod II

First step is to know the agreement yourself.  That may seem like a silly thing to suggest but it still amazes me how many agents don't know all the intricacies of a RE contract.  Once you know the agreement like the back of your hand, I find its a lot easier to explain it to a buyer and/or seller in non legalize terms.  I typically focus on the fill in the blank or option selections and not all the clauses that are standard.  You definitely want to avoid reading the agreement word for word or you'll be there forever.  Have a pre-canned explanation for sections and you'll be able to get through it pretty quickly.  Unless you are dealing with first time home buyers/sellers, they'll have an idea of what you are describing.  Hope that helps!

Ah the age old commission split question.  Here are some thoughts for you to chew on.  When you start out in Real Estate you are pretty green and really need to focus on getting experience and building your brand.  Going with one of the traditional brokers you'll most likely start out at a 50/50 split.  It may seem low but you typically get a lot of training and mentoring that goes along with it.  Its also good to join a brokerage with lots of agents that you can work with.  It may seem like competition is a bad thing but in actuality if you join up with an office with many top producers you have the ability to help them with open houses and can also get mentoring help on your first couple of deals.

As you start getting experience and start making more sales, these traditional brokers like C21, Coldwell, etc... will give you better splits.  As an experienced agent I've been offered 70/30 up to 90/10 depending on the volume.

You can always go with a 100% commission broker and only pay a per transaction fee.  You get to keep most of your commission and you have the greatest amount of flexibility.  The con obviously is don't expect anyone to hold your hand at this stage.

Hope that helps in your decision.  I've always suggested to new agents to go with an experienced brokerage that offers maximum training and mentoring opportunities to help kick start your career. Once you have experience under your belt you can always hang your license somewhere else...or become a broker yourself!

Good luck!

@Yechiel Abekassis, as a RE Agent I've been on both sides of the fence and I can tell you its perfectly normal for a Buyer's Agent to show their buyer the property without the listing agent being present.  As a licensed RE Agent it is the responsibility of the buyer agent to make sure they only know the lockbox combination and that the property is secure.  In the 10+ years I've been in RE I've never had any issues.   Hope that helps!

@Antonio Ferguson welcome to BP! I'm also a FIU graduate (Computer Science) and based out of Miami.  I just recently signed up here and its amazing how much you can learn from the forums and members here.  Make sure to set up some keyword alerts to keep informed on topics you are interested in.  Cheers!

Hi @Account Closed,

I am in a similar boat being in South Florida.  Weather wise I can't think of a better place to be all year round (except maybe those hot summer months!)  Unfortunately it makes Florida a very competitive market and it has appreciated significantly over the last couple of years.

My advice is run the numbers. Make sure there is cash flow and a decent ROI. There are always unexpected repairs or issues that come up and you'll need the rainy day fund in place. There is a great Rental Property Calculator here on BP you can use if you don't have a spreadsheet. Good luck and let us know how it goes!

Congratulations @Terrell Sapp.

I suggest you start out with a broker that can help mentor and guide you through these early stages in you Real Estate Agent career.  Find a broker that is aligned with your goals.  I personally started with Century 21 which had a wealth of training and mentoring opportunities.  You definitely want to build your brand and find what you'd like to specialize in.  Working your SOI is great but its not enough.  You'll need to meet a lot of people and network like crazy to let everyone know you are in Real Estate and willing to help when they need it.  Good luck!