All Forum Posts by: Mackenzie Charles

I just passed my RE exam this week, yay! Now I need to find a broker to place my license with.  However, I only want to buy/sell for myself and family. I have two very young kids that I currently stay home with, so I dont want the long and erratic hours. I have a couple of rentals and my dad and his friend would like to start flipping houses.

I had my license a few years back (before my babies) and worked with a broker under a big franchise. Not only can I not afford to work there part time, but they do not allow part time agents. There are only 2 other agencies in town, and only one of those is not a franchise. The next agency is 40 min away, which isnt great for the part-time aspect...

So, my question is, what are some ways to convince a broker that I would be a great addition to their team when I only plan to buy/sell a handful of houses per year and do not want to take on the general public?  I really want to get on with one of the two brokers here in town, so I feel like I need to be really prepared before meeting with them. 

I would be interested to know how some of the investors on here got on with a broker. Also, did you bring ideas to them about paying E&O fees, commission splits, mls fees, flat fees per sale, etc., or did you just let them tell you what they were willing to offer a part-timer?

Thanks in advance!

Mackenzie

@Vince Mayer, I went ahead and signed up for classes with realestateexpress.com two days ago. I am about 15% finished with the 48hour course and can say that I feel like it is a really good program so far. I thought I would give you some feedback in case you hadn't made your decision yet. :) Best of luck!

@Nathan Gesner, thank you very much for all of the tips! I looked up the ozone generator that you recommended and will be purchasing if I decide to buy one of these properties. I can imagine that it comes in handy quite often even on the non-smoking properties. I certainly could have used it in the rental we just purchased that we dubbed the "cathouse." Do you find that you have been able to get rid of ALL of the smell with the treatments that you recommend, as in not being able to tell a smoker ever lived there? Or are there always some lingering smells, albeit light? @Justin McGuire (thank you for your word of caution) mentioned smells from central ac ductwork. Did you find that you also had to treat the ductwork? I know the carpet steaming company that I use can also clean ductwork (but it isn't cheap). I am wondering if that would be sufficient.

Thank you also to @Michael Knaus - painting the subfloor before adding new carpet sounds like a great idea. I have never heard of TSP, so I will look into that as well!

Thank you all again for your time. I know you are very busy people!

I have looked at several homes lately that are at a pretty good discount, but for good reason...they are laden with cigarette smoke. Several of these have been on the market a very long time, and I believe could be bought significantly below market value. However, I dont want them either if there is no way to remove the smell. Has anyone had good luck removing dense, old smoke smells from homes?

Thank you, @Aaron K.!

@Vince Mayer Thank you for the recommendation. This is the one I was leaning toward as well. It keeps showing up in all my research. Seems to have decent reviews as well. Best of luck as you work toward your license!

@Timothy Doenges Thank you for the tip! That would have been awful to have finished the class only to find out it wasn't accepted in your state! I will definitely check before I decide on a program, thank you!

@Lawrence E. Hopkins, thank you for the recommendation!

I had my real estate license a few years back, and chose to let it expire when I had children. I have recently invested in two SFH rentals and plan to do more. I feel like it might be a good idea to get my license again to assist me in growing my business. However, last time I took classes in person. I dont have the luxury of doing that this time and was looking into the online classes. Are these classes legit? Any recommendations for or against appreciated.

Thank you @Eric H. for your response!

I am from a very small town where there are 3 local brokers. I also know all of the agents in town, and none of them are as part-time as I plan to be, so I am sure I will be the one trying to present a deal to my future broker. :) I'm trying to get a general idea of some things that are fair to ask for. I never thought I would be able to avoid a monthly fee, so thank you! Paying insurance yearly would be very doable, and a flat rate commission would be wonderful!

Thanks again!

A little backstory:

I used to be a full time agent for a big name company. When I had my first baby, I quit to stay home. I now have a 3 year old and a 1 year old and just purchased my second rental house. I have been thinking about getting my license again to aid in growing my business. However, I do not want to work for the general public, as my first job is to my children. I want to work for myself and maybe a few friends and family.

My question us: What kind of agreement (regarding monthly fees and comission) can I expect to get from a broker if I only want to do a few deals per year? I would like to know what is reasonable to ask for before I go around talking to brokers. I cant go back to my original office because they are very clear that they do not take part time agents and their monthly fees are astronomical anyway.

Do I ask for lower monthly fees in exchange for a bigger split in commission?

Has anyone worked out a great part-time deal with a broker?

Thanks in advance!

A little backstory: 

I used to be a full time agent for a big name company. When I had my first baby, I quit to stay home. I now have a 3 year old and a 1 year old and just purchased my second rental house. I have been thinking about getting my license again to aid in growing my business. However, I do not want to work for the general public, as my first job is to my children. I want to work for myself and maybe a few friends and family. 

My question us: What kind of agreement (regarding monthly fees and comission) can I expect to get from a broker if I only want to do a few deals per year? I would like to know what is reasonable to ask for before I go around talking to brokers. I cant go back to my original office because they are very clear that they do not take part time agents and their monthly fees are astronomical anyway.

Do I ask for lower monthly fees in exchange for a bigger split in commission?

Has anyone worked out a great part-time deal with a broker?

Thanks in advance!