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I am currently still a Calif licensed Realtor (not a Broker) and have a general real estate practice but am going to start to creatively invest in Options, etc. (leases too most likely); and am currently with remax but have offers to also go with other companies….what do I need to know re: how my Broker will react to starting to see contracts coming in that are ‘creative’ etc…
IN a few years I will be open to relinquishing my license in order to only invest; but for now, I likely need to keep the license as I build up steam and more capital (?)..but am hoping for advice about this topic…I do like being a Realtor too, but if I need to segue out of being an Agent in order to invest more freely; I would put that onto my goal list…but for now; I need to make sure I am with the most supportive broker in terms of my now starting to creatively invest.
thk you
dDonna,just some feedback….By all means if being an agent helps you move towards achieving your goals in your real estate investment journey,don’t let anyone tell you otherwise.
but, for me…Last year I decided to get a NJ RE license.I am in the process of surrendering it. I put out a lot of offers thru the MLS(not acting as an agent,but as a “Trustee of The………Family Property Trust”. I have no problem with the broker I use,submitting offers,but he gets immense grief and many complaints from the listing agents/brokers.He actually was reported to the Real Estate Commssion for submitting Offers in my format and not on a NJNAR contract (of course he did nothing wrong)but thats what you are dealing with(ignorance).I actually suspect that the agents purposely submarine my offers.By NOT being under the regultory authority of the RealEstate Commission I am able without worrying about conflicts of interest of agency, approach the sellers directley(via door knocking,calling or writing letters) to explain the benefits and structure that I propose(We do live in a free country).The agent can not stop me,only the owner can(I also explain that they are still obligated for comm. to the agent under the listing agreement).I am in the process of training an agent to act as a “principle” to lock up OPTIONS on properties that fit my criteria.He then can sell me his Option and I will close.He does not have to split anything with his broker. I will post an update as soon as my first deal closes.
Where did I learn this technique…….right on this site !!GOOD FOR YOU WINSTON!!!!
Thank-you, Winston. …this is all very interesting and helpful.
I am confused about one point you made; ie that you are training an Agent to lock up options for you…I am not clear on ‘why’ you need someone else to lock the options for you vs doing it yourself…..(perhaps what you are doing is doubling the man-power /birddogging of good opportunities…??)….thk you again..
dI do love being a Realtor for many reasons but am open to the idea of giving it up at some point; if/as I find investing to be as interesting and stimulating; in fact, I am an addict now of learning all these fascinating investment techniques via crew et al…..I am finding that I am spending less time w/my traditional practice and more time every day learning these techniques; and I just hope that my state will allow me to surrender that license when it all makes sense to do so. Jackie had suggested that I start by learning wholesaling and masterleasing;so I am….and will resume investing via her /jack’s et al’s techniques (had started w/some things a few years ago after attending jack’s options seminar, etc)….but am having such a wonderful time w/all this; and perhaps can give up that license, too….am glad to have your insight and helpful advice and techniques;…but can you pls explain why you are also training an agent to lock up options for you?
thk you! d
Hello Donna,
I am training my buyers agents to think like an investor 1st(yes,turning them into a high paid bird dog).I show them how they can make more money wholesaling an option to me properties that fit my criteria.I have logically explained to them that sitting down and signing an option(contract) is not much different than signing a listing agreement(also a contract).I’ll be honest with you,the longer the person has been an agent,the harder it is for them to shift gears into this technique.The agent that is adapting well to this concept has only been licensed for less than 3 years,thinks like an investor and has been focusing on developing his client base of investor buyers.With the market being in chaos(which is good )he has made more money this year than the previous 2 combined,while his fellow agents are crying the blues.
Fortunately for him and agents like you,you are willing to think outside the box and I am sure you will be very successful.
Winston
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