Real Estate License Question?
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I have a full time job but some family members of mine have property they want to sell and buy. Would i be able to get a real estate license just to broker the sales/purchases of their property? I think i have to be a sales person agent for a couple years and work under a broker before I can actually become a broker. I don't want to work as a real estate agent. I just want to be able to make money off the sale of my family's property. Does this makes sense? Would it be possible?
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Answer:
So if your sister needed an operation you would go to med school. Unless it's a lot of property I don't see the benefit. Most people don't realize how expensive it is to sell real estate properly. You wouldn't want to short change your family so you would need to join the MLS in your area and market their property on other sites as well as in a paper or two. I think if you just want to make some cash you should find a good Realtor and work out a finders fee agreement with him/her.
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Other answers
Figure out another way to make money. Unless you are talking about many millions of dollars worth of real estate over several years, you will find that getting a license and paying all the required fees would not be worth it. You also won't actually know much until you have a couple of years experience actually selling real estate, so you would not be much help to them. And if you have a full time job, how would you deal with the details of a sale? Lenders, title companies, appraisers and such only work regular business hours and a real estate agent must be available to meet with them when necessary, as well as meeting with buyers whenever the buyers are available.
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You have to work under a broker, who you split commissions with, as well as pay all of hte membership fees for. Unless they are selling a lot this will cost more then it is worth. You will not want to be a broker for them, that costs even more, you have to get a bond, and E & O insurance.
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