Value of becoming a Real Estate Agent

[Iqen]

Hi;

I know some members have gotten their Real Estate Agent's License with main intention of helping their investment goals. How exactly does it help? I can only think of easier access to the MLS which I'm not sure is a significant advantage anymore.

 

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[andviv]

Why do you ask?

 

[MJ DeMarco]

How exactly does it help? I

Uhh, by being an extremely successful agent? It essentially entrepreneurship.

 

[Iqen]

Uhh, by being an extremely successful agent? It essentially entrepreneurship.

Thanks; I guess I'm just not understanding how being a good agent helps someone focused on investments (for themselves, not others).

 

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[Kak]

My girlfriend is a new agent started in May. Times are hard, even in our very popular upscale area. She will probably have to get a little night job to keep up her real estate career.

It has a lot to do with experience and years in an area from what I can tell. The people who have been agents there the longest tend to have the most listings. The more money you make the more you can afford to advertise. The ROI of advertising medium is almost impossible to determine.

Access to MLS and other resources allow you to find the best deals very quickly and easily compared to a non licensed person so I guess that and the knowledge of RE will help in general. Commissions are also nice.

 

[NJRealEstate]

Are there any disadvantages to being an agent as an investor? You have to disclose the fact you are an agent, does this ever make it more difficult to negotiate with a seller? I have heard agents are held to higher standards legally, not sure what this means and what you have to do in order to meet the needs of the raised standards.
Also what are the annual costs associated with being an agent and/or a broker?

 

[Determined2012]

Excellent to know this- I should have my Illinois brokers license before 1 Jan. Thanks a lot JScott- very good info. I plan to use real estate as one of the vehicles needed to get in the Fastlane.

 

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