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All Forum Posts by: Account Closed

Account Closed has started 5 posts and replied 46 times.

Post: Education and start up costs: How much are they?

Account ClosedPosted
  • Posts 67
  • Votes 4

Okay thanks.

Post: Education and start up costs: How much are they?

Account ClosedPosted
  • Posts 67
  • Votes 4

Gary Parker, as far as when you first start off with a broker though, how much does that cost? I mean when you first find a broker and decide that you would like to work under them, what's the "employment" fee?

Post: Education and start up costs: How much are they?

Account ClosedPosted
  • Posts 67
  • Votes 4

I recently decided that once I educate myself that I would like to obtain a salesperson license and become a real estate agent. I know the classes I will need to take will be a few hundred dollars and the exam itself will be about sixty, but what about the costs associated with working with a brokerage? How much does it cost to hang your license in a brokerage and what are the fees? I am also hearing that I should have at least six months of cash reserves when I start out. Is that because I probably won't be closing many deals right away and I'll need money to be able to pay the bills and also for marketing? So as far as classes, the exam, and working with a broker how much will that all cost? Any responses would be greatly appreciated.

Post: Having a Real Estate License: Does that make you an Agent?

Account ClosedPosted
  • Posts 67
  • Votes 4
Originally posted by Brian P:
Terry

You seem like your still in what to do mode. Here are my suggestions or two cents worth based on being an investor for 58 years and a real estate agent/broker for 48 years.

Step one become an investor/wholesaler as of today so get busy, and as you learn that study for and get your agents license (here is where even agents are confused, they think the license gives them the right to deal with the public. It doesn't, only a broker has that right, the salespersons license gives them the right to be an agent for the broker not the public.

Now when you get your license find a broker that will give you the best deal. The training at most offices including the big names sucks so don't be sold on the training sales pitch, training is actually a do it yourself possibility. Eg, have a title or escrow question get the answers from the horses mouth, talk to a senior escrow officer. The same for other subjects. Try and find a team spirit attitude office with a cooperative and knowledgeable broker is ideal. Your goal at this point will be to find a "partner" in the office experienced and know-ledgeable but not overburdened who will be willing to split your business with you while you learn.

Wow @Brian P 58 years, that is a lot of experience! You say I should start wholesaling but I hear that can be complicated for beginners, plus right now I'm just saving my money for my real estate education plus the start up costs that come with becoming an agent, thanks for the great advice though!

Post: Becoming FT Agent - pros/cons

Account ClosedPosted
  • Posts 67
  • Votes 4
Originally posted by Andy Mallos:

Terry H. I'm in a suburb of Seattle, not the core metro area - the median house price is $215K. Not sure if the above post applies to my situation either. But...there are higher end properties in every community - target those. Selling a high end home would take just as much time as selling a low end home, right?

Makes sense to me.

Post: Having a Real Estate License: Does that make you an Agent?

Account ClosedPosted
  • Posts 67
  • Votes 4

Okay. I'll have to check the requirements in my state then.

Post: Having a Real Estate License: Does that make you an Agent?

Account ClosedPosted
  • Posts 67
  • Votes 4

Jodi Melssen I'm in a similar situation. I was looking up classes online and they all seem to be quite a drive away, I'll continue looking though. Listing practice, buying practice and ethics would make 90 hours then right? Isn't only 60 hours required or is it 90?

Post: Having a Real Estate License: Does that make you an Agent?

Account ClosedPosted
  • Posts 67
  • Votes 4

Yeah, I'm looking to become an agent and replace my job, then once I have experience as an agent jump into investing. Jodi Melssen are you taking classes live or online?

Post: Getting a Real Estate License

Account ClosedPosted
  • Posts 67
  • Votes 4
Originally posted by Gregory P.:
MAIN POINTS:
Benefits of being a RE Investor and having a license? Would it be better to get a license before directly getting into investing?

Can you really get a legitimate license from online classes compared to classroom courses?

If you get a license in one state, can you only deal with RE in THAT state? Can you have licenses in many states?
------------------------------------------------------------

I've still been doing research and learning about what it is I really want to get into concerning RE, and I've recently stumbled upon the idea of getting a RE license. I was wondering, wouldn't you WANT to get your license in order to learn more and make finding deals easier without a middle man? So, naturally, I looked into the process of getting a license, which doesn't seem too bad. But whats the difference between online classes and classroom courses? And if you get a license in one state, are you only allowed to deal with RE in THAT state? Can you have licenses in a whole bunch of states?

I wasn't sure which category thread to put this in so I apologize if this post should be somewhere else!

Thanks for starting this discussion Gregory P. You asked all the questions that I was wondering myself and the answers you were given helped a lot. Great post!

Post: Having a Real Estate License: Does that make you an Agent?

Account ClosedPosted
  • Posts 67
  • Votes 4

Okay thanks Steven Hamilton II.