You might be considering getting into flipping real estate and whether or not its worthwhile to get a real
estate license or partner with a realtor. So I’ve decided to help you out with a list of pros and cons.
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan – College Station. Let’s start with the Pros.
If you decide to get your real estate agent license in Texas you will have to hold your license with a brokerage for a minimum of 4 years and meet educational and production requirements before you could become a broker.
You must be a broker to have your own brokerage and work independently. This gives you time to learn about buying and selling real estate and the legal and ethical requirements we must adhere to. Brokers are responsible for the realtors they sponsor and have a vested interest in making sure that they are successful. Most offer free training regarding the real estate processes.
Secondly, when you have a license and represent yourself you are able to reduce your commission or waive the bulk of it to make your offers more appealing, if your broker approves the reduction in commission. If you are the Broker, you make that decision.
Thirdly, It can also make negotiations easier because you know exactly what your top or bottom dollar is and you can build a rapport with the selling
agent according to that.
Besides that, you can list your own finished product and only have to pay a
buyer’s agent instead of both a selling and buying agent.
Most importantly, you will have the knowledge to navigate the real estate transaction, and property management if you’re interested in that, and won’t be
dependent on someone else’s availability or schedule or lack of knowledge. You will also have the ability to sell for others for additional income.
Check out my next video on the cons of this process. I’m your Community Market Leader Sherri Echols, a helping hand for a happy home.
