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#456608 - 02/12/17 06:07 AM Aspiring Agent in FL - have some questions..
mikemlittle Offline
Junior Member

Registered: 02/12/17
Posts: 5
Loc: Florida
My wife and I are actually both thinking about getting our licence and had some general questions. I am currently military and looking to do this part time. My wife would be able to invest a little more time in it but and we were thinking about working together. One of the big reasons we considered this is we are planning on buying a home here and thought that we can act as our own buying agent and get money back on the deal. We know we have to be sponsored by a broker but have already found a couple who would like to hire us...even part time.

So here are my questions:

I'd like to get the license as soon as possible and have seen online classes that have generally good reviews. Any cautions to these? I don't have the schedule to sit in classes currently.

How long does it take typically to act in a RA capacity from start to finish?

Is there anything we are not considering as far as acting as our own agent to buy a house? Depending on the cost, brokerage commission, etc we could have maybe close to $20,000 kicked back to us for buying.


Thanks!

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#456609 - 02/12/17 06:46 AM Re: Aspiring Agent in FL - have some questions.. [Re: mikemlittle]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Originally Posted By: mikemlittle
". . . we could have maybe close to $20,000 kicked back to us . . ."


So you're buying a house priced in the range of $1,300,000 ?

Plan on 3-4 months to become a Licensee; but really, would you feel well served if you were to be some other Rookie Agent's first Customer Client ?

That's about the same as flying blind, without any representation.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#456610 - 02/12/17 07:07 AM Re: Aspiring Agent in FL - have some questions.. [Re: Vermont]
mikemlittle Offline
Junior Member

Registered: 02/12/17
Posts: 5
Loc: Florida
No not $1,300,000.. I basically took what we were planning on spending X 3% and then took 70% of that based on what I've read and seen in the area as far as broker commission. But honestly, even if we got only $5000 kicked back, that's still better than $0.

As far as "well served if you were to be some other Rookie Agent's first Customer Client ?" do you mean not really having RA representation (being new and inexperienced) as we might by just getting an experienced RA?

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#456612 - 02/12/17 07:42 AM Re: Aspiring Agent in FL - have some questions.. [Re: mikemlittle]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
If this were to be a financed purchase, I'd check with the likely Mortgagee to see how they'll consider that prospective Commission . . . . and I'd definitely shy away from using the words "kick back" in any discussion . . . . there are Laws in most jurisdictions against "kick backs" as well as RESPA. To be a "kick back", it will have been money that was actually earned by someone else, who then, for some unknown reason, decided to share the proceeds with you under the table, in anticipation of some future reward.

If you were to receive a Commission from your own purchase Transaction, it won't be much of a "kick back", you will have earned it through your own legwork and the additional risk you'll absorb by taking on responsibilities normally taken on by a real Buyer-Broker with Fiduciary duties to you.

Would you consider Real Estate as a 2nd Career "IF" you weren't also considering yourself to soon be entering the Real Estate Market as a Buyer ?

If that were going to produce such a lucrative pay-off, then many more people would be doing it . . . . and you'll soon discover why it's not such a bonanza.

But good luck to you in this endeavor.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#456616 - 02/13/17 12:28 PM Re: Aspiring Agent in FL - have some questions.. [Re: mikemlittle]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1619
Loc: Cleveland, Ohio
So are you just wanting to get your license so you can buy your own house to try and save some money? If that's the case, then save your money and hire an agent.
_________________________
David Hunter | Retired RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


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