All Forum Posts by: Numan Seinfield

I’d like to thank everyone for their input.

I’m still weighing my options, but getting an out of state license still seems to be the best choice for me. I can get referral fees while remaining unlicensed in CA. Plus I get to plan a vacation to another state to sit for the exam.

Hmm…I’ve always wanted to visit the Florida Keys… Or maybe a mountain biking trip to Colorado…

@Karen M: After looking into it. It doesn’t seem to be that much work/expense. I can take the courses online. Fly in sit for the test. Hang my license. That’s it. Continue to pay the fees and I have a license for life. Seems worth it to me.

@David C. Thanks for the broker recommendations. I’ll check them out.

I guess I can't get my brokers license after all unless I can take 4 courses and sit for the exam within a few weeks.
Oh well.I think I've come up with a better soulution.

I could get a salespersons license in another state and hang it with a low priced broker. This would allow me to collect referral fees from agents in my state (every state for that matter). If I did this I would still be unlicensed in CA and would have the best of both worlds.
I can't see any negatives in doing this. Am I missing something?

@Andrea M. I'm not doing anything illegal/unethical so I don't mind being "held to a higher standard" The issue I have is with hanging my salesperson license with broker who doesn't support what I'm doing.

@Karn M. Once Again. I would love to hang my license, but where can I find a broker who supports FSBO/motivated sellers, sending yellowletters, wholesaling, flipping etc? I'm not sure they exist

@Mark H: I'd rather be an agent. I don't want the extra cost/liability of having a brokers license if I don't have to. I suppose a better question is how do I find an investor friendly broker that would allow deals with FSBO/motivated sellers, sending yellowletters, wholesaling, flipping etc without getting in the way? I've looked around to no avail. So I've come to the conclusion that I need a brokers license. Let me know if this isn't the case & point me in the direction of one of these brokers.

Jason

Thank you for the replies

@David Niles: In CA if you have a bachelor's degree you can take the required classes and sit for brokers exam without ever having a salespersons license

@J Scott: That's exactly what I'd like to do. With all the money I spend on marketing I want to capitalize on every opportunity I get. But I'm trying to figure out if the broker route is right for me.

I'd like to get a feel for how much more liability, paperwork, and costs I will incur as a broker. Anyone with a brokers license have an idea?

Thanks

I’ve been researching this and need some experienced help
I am thinking of getting a broker license for my own investing/flipping. I've taken all of the salespersons classes, but have been reluctant to get the salespersons license as most brokers don't like their agents buying directly from FSBO/motivated sellers. Plus I lose a lot of control/flexibility over my own deals.

My plan is to instead get a brokers license (I need 4 more classes to sit for the test) and continue to do deals as an investor by finding motivated sellers/FSBO. If a deal is too thin I would like to refer them to another agent (for a referral fee) who will list the house. (Would I incur additional liability referring to another agent?) I could possibly list it myself, but am worried about a conflict of interest. I feel I am leaving a lot of money on the table without these options.

Is it worthwhile doing this? What costs would I be looking at? I know I will have E&O insurance (around $1500/yr. CA brokers fees ($400/yr)?

If I’m the only one working and I hire a RE attorney or transaction coordinator to go over the paperwork on my deals how much more liability would I be taking on vs being unlicensed?

Is anyone else doing something similar to the above?
All recommendations/suggestions appreciated

Jason