All Forum Posts by: Joshua S.

Welcome, glad to have you.

Originally posted by @Jeff Brower:

I am a part time agent with KW. Split here is 70/30. There is a monthly fee I get charge through my office which equates to around $40 per month. You have to pay for your national, state, and local realtor association dues separately. I have my license more for personal investments, and to help friends and family. If I didn't do one deal, it would cost me between 1500-1800 per year. They offer a ton of training at my office, all free. I would recommend KW if asked.

Thanks Jeff! As far as the national, state, and local realtor association dues, is that an absolute requirement to be a real estate agent?  From what I understand those fees are really expensive and I'm not sure what benefits being part of the association  offers.  I wouldn't imagine it's required for someone like me that would be only really be working with friends, family, and co-workers from my full time job. Thanks again for your input.

Originally posted by @Oliver Beirne:

I don't know much about EXIT and what they offer, however, I can speak of Keller Williams as they have and do a extensive amount of workshops and classes for new realtors. This can help jump start your career in Real Estate if you have any passion to do so. I am part time as well and have learned a ton already from the classes. 

I think choosing the right brokerage is all about finding the best fit for yourself. Some people have different preferences like everything else in life and every Real Estate brokerage has a different so called style about doing business. 

Thanks for the reply Oliver!  Does Keller Williams' fees differ from state to state? Do they have "desk fees" in addition to a commission split?  What's the commission split?  I'm told they charge for everything you do in the office (copies, contracts, etc.), in addition to desk fees, and commission split. How much do they charge annually to hold your license with their brokerage (other than desk fees, commission, etc.)? 

Originally posted by @Christopher Lightner:

@Joshua S. I am an agent at EXIT Realty Professionals in Virginia Beach. It sounds like you've already done some research on our company, but I'd be happy to have a conversation with you and try to answer any questions you have.

I also did the Real Estate Express course, got my license for very similar reasons as you are.

Thanks for your reply Chris, I've spoken to another EXIT agent already about pretty much everything they offer (sponsor program, commission split, etc.) and require (fees).  My primary reason for the post would be to compare them with Keller Williams.  Are you a part-time or full-time agent with EXIT? I think I also really just want to know I'm not making a huge mistake and wasting money trying to be an REA on the side as well.  If you're not part-time, do you know of anyone that is a successful part-time agent?

I am currently employed full time as an IT contractor for the Navy (in Norfolk, VA) and am currently in school for my real estate salesperson license. I'm planning to be a real estate agent on the side, part time, and am wondering if anyone can give me any information on who would be the best and most affordable broker to work for. I've heard good things about both EXIT Realty and Keller Williams. My plan is to earn extra income by being an agent so that I can make extra money to invest and also, from what I've read and heard on Bigger Pockets, being a licensed agent is definitely beneficial as an investor.

Does anyone know if Keller Williams accepts part time employees? I know EXIT does.

What fees does an agent have to pay at Keller Williams all together?

I'm starting to wonder if being a real estate agent part-time will prove to be a lucrative endeavor... I've spent $270 on the Real Estate Express course and am approximately 20% finished. My primary goal for becoming a part time agent would be extra money to invest, but with all the fees, I'm not sure if I'm choosing the best route.

Also, does anyone know of any local real estate brokerages in either Chesapeake, Suffolk, Virginia Beach, Norfolk, Newport News, Hampton, or really anywhere in Hampton Roads, that takes part time agents and have low fees and good commission?

Any and all information anyone can provide is welcome and is greatly appreciated.

I don't speak Vietnamese and I only have one rental that's currently occupied, but just had an idea that may help.  It may be possible for a landlord to communicate via email (using Google translate to translate the emails) and use a translation app on their phone when meeting in person. Best of luck to you!

Absolutely not! Determine a minimum list of requirements and stick to it. A 400 credit score means they have problems paying for things. Also, if they live in the house, they go on the lease unless they're children. No exceptions.

I'm sorry for your situation. This person is a professional tenant based on what you're saying. Don't ever rent to anyone that has had an eviction, even if they have a sob story. You have to look at it as a business, you have to be friendly, but cold. If a tenant doesn't fit my specific criteria, I don't even give them the time of day. Here's my criteria: 1. Credit score over 650. 2. Gross combined income 3x the rent. 3. Positive previous landplord reference. 4. Job and income verification via company contact information I find myself. 5. No evictions, ever. 6. No accounts in collections on credit report. I also charge a 20% ($60) late fee on the 2nd and a $20 per day late fee everyday the rent is late. If they don't communicate with me about the rent being late, I also serve a 5-day pay or quit notice on the 2nd. I was asked by my current tenants, when I interviewed them, whether or not I gave a "grace period" because their last landlord did. I told them no and I also told them the entire month leading up to the due date is their grace period. I told them they're not required to wait until the first to pay the next month's rent. They understood and I've never received a late payment. Best of luck to you. I hope it all goes well. Don't be discouraged. Learn.

Welcome Zach! Glad you're here. I'd say most people want to start out wholesaling. That's a good plan, the key to it is having a great marketing funnel. However, if I could do it over again, I'd buy a duplex, triplex or fourplex as my initial purchase, using a 203b FHA loan to fix up the units. Either that or a 4 bedroom house and rent out the rooms. That way you'll likely have equity after fixing them up. Of course that's if I didn't have the wife and kids. House hacking seems to be best way to start when you have a good paying job. Then you could have tenants paying for you to live while you build up capital for another investment via your income. Of course I say this not knowing your current familial status.

@Jack Clough

Thanks! That's excellent!  Got any tips for finding a really good contractor like that?