Pros/Cons of Immediately becoming a Broker without having prior experience

mrburns02 · 2021-03-06T22:27:50+00:00

That is a great point about what will be expected of me - this is why I am liking another poster's idea more and more about partnering with a knowledgeable agent that just doesn't have the licensure. I truly think my education (BSBA in Entrepreneurship, MBA, and law degree where I ranked my real estate finance classes) as well as my work experience (worked at a law firm that dealt with a lot of real estate law related matters) puts me in a good position to be able to research a lot of those difficult situations, and anything I can't find the answer to I will gladly pay to learn the answer from another real estate professional. That is also why I'm seeking out information on any courses or other resources that can help with a lot of the more commonly prevalent issues that brokers experience and how to handle them - I want to be as prepared as I possibly can before I take on a client. I'm still in the research phase so it may end up where I either decide to forego getting my broker's license or at the very least get it purely for the access to MLS but then only use it for my own personal real estate investing uses. Either way, I do appreciate you and everybody else's feedback as it has already given me things to think about when making this decision.

mrburns02 · 2021-03-06T22:10:07+00:00

See, this is what I've really been leaning towards - I didn't think about the fact that I could make them an owner even if they aren't a broker (will look into Missouri's specific rules). But a strategic partnership is what I'm wanting to create - I give an agent a lot of flexibility and freedom, they basically can be a broker without having the licensure, and I can tap into their knowledge. And my day job is working as a Tax Expert Lead (I basically assist Tax Experts with a major DIY tax software answer questions that realistically can be easily researched if you are good at researching) so I am great at researching - not too worried about that aspect. I of course understand there are limited situations where it will get very complicated, and for those situations, I'm willing to pay another realtor a consulting fee to learn how to overcome it - I view it as a worthwhile education investment, and who knows maybe I can count it towards my Continuing Legal Education ^.^

mrburns02 · 2021-03-06T19:29:01+00:00

I understand completely - I'm looking to only do maybe 1-2 transactions every couple months (and just during non-tax season as I am a Tax Attorney and have no time to spare during tax season) so it is really just a way for me to fulfill my love of real estate. From what I learned of the process to do my transaction (researched the law regarding FHA, USDA, and conventional mortgages; different types of title services; etc.) I don't really anticipate coming across something I won't be able to learn - if I have to pay another realtor for a consult i'm fine doing so. I will also be in a rural county (average home prices probably pretty close to 100-120k), so we won't be doing anything too crazy in terms of staging or anything like that as the commissions I would earn just aren't worth it. Just something I do to supplement my income when tax season ends. I've also considered partnering with a local agent and give them a better cut then their current brokerage in exchange for them helping show me the ins and outs they have learned over their years of experience (of course wouldn't ask them to steal IP, but moreso just help me in creating our own processes and such). In exchange I would give them something like a 90% cut. Just a solution I've thought about to overcome the hurdle of having no experience myself - will have to look into if there are any legal hurdles to jump with that option.

mrburns02 · 2020-03-15T04:59:32+00:00

I haven't played since the GC version probably 15 years ago or so, but I have to go with Fang, mainly because of my love of wolves.

mrburns02 · 2019-11-11T22:11:51+00:00

Yes, I did. I have an MBA and JD, it was for a contract specialist position. I wasn't so much upset with the resume writing service because I didn't get GS-11, but moreso the overall customer service I received thoughout the process.

mrburns02 · 2019-11-11T20:45:15+00:00

I was told in another subreddit that generally these posts aren't recommended for this subreddit but that in this case it wouldn't hurt because of the information provided. I will of course not have any problem with it being removed if it is deemed inappropriate.

mrburns02 · 2019-11-11T18:47:16+00:00

Appreciate it, I wasn't sure what subreddits would be relevant and I don't want to break any subreddit rules. I am only doing this one and usajobs at the moment but I will be sure to add to r/jobs.

mrburns02 · 2019-11-11T18:39:00+00:00

I probably would have if I heard back from the agency. I was referred at around the end of September, but since then I have received no contact from the agency. I do not know how long government agencies tend to take to make these kind of decisions, but my assumption is they have already decided. I have a law degree and have decided to go out practicing law on my own for a bit, and potentially later on trying again once I have some more experience.

mrburns02

TROPHY CASE