where can i hang my real estate license for free This is a topic that many people are looking for. bluevelvetrestaurant.com is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, bluevelvetrestaurant.com would like to introduce to you Where Should Investors Hang Their Real Estate License?. Following along are instructions in the video below:
“Should investors hang their license by hanging their license. That refers to associating a real real estate license with a broker. Because when you first get real estate license and pass the test typically in almost all situations you re more of a real estate agent or associate. You haven t reached a level of broker yet and so you have to associate or hang your license with the broker to begin practicing real estate so in this video.
I m going to share with you where you should hang your license. Which broker you should choose if you re a real estate investor. And if you re not a real estate investor. There s going to be some interesting tips i share with you here.
But it may not be as applicable to you i m phil pusta offski with freedom mentor comm. I have been a real estate investor. My entire adult life my entire working life. I m also mentor to many of the most successful real estate investors all across north america best selling author of two books.
My first book how to be a real estate investor. I give away for free in the top right corner of my videos and also my second book real estate investing gone bad. This is more for intermediate experts shares with you what not to do. But i m perhaps best known for videos just like this my youtube channel is number one for real estate investing worldwide approaching 30 million total views and that s because i share truth wisdom what i call signal.
Because there s so much bad information out there. And it s videos like this that help real estate investors make better decisions make more money and be more productive now because i share wisdom and truth from the real world. Sometimes. I ruffle a few feathers and i may do that in the video like this too because some of the advice.
I share is beneficial to some parties. But not to others and so in this video you may find that there s gonna be some negative comments at the bottom and i m okay with that because i ve got plenty of subscribers plenty of views. I m already doing very well as a real estate investor. So won t make or break my world.
But i hope teaches you as a real estate investor. How to be better at this business. So let s talk about where you should hang your license real simple to explain upfront you wanna you wanna hang with a hundred percent broker you can literally google. The phrase hundred percent.
Real estate broker. A hundred percent commission real estate broker for your area. And some will come up. And what a hundred percent broker is is it s an association with a broker whereby you get to keep a hundred percent of the commission now there s probably going to be a monthly fee so let s it s not totally free right the broker has to actually make money because they have overhead and they have all these regulations they have to follow so there s gonna be a monthly fee the one that i m associated with i just have to pay my mls dues and then separately if you don t do the monthly fees sometimes they do a per transaction fee the one i m a part of is per transaction okay and that s gonna vary from area to area so a place like california.
Where you have a much higher. The typical sales price is going to be more than say a place like ohio or kansas. So with a hundred percent broker. You don t have all the kind of requirements.
The typical brokerage does so you don t have to go. And do what they call desk duty or you have to pick up the phones you don t have to go to these weekly or monthly sales meetings with the broker you don t have to do a lot of that stuff you may never even show up in the office in fact my associate with my broker. I haven t physically been in the office in years i email and mail all the paperwork that s necessary on each file. But i don t actually go there in person.
So that s very efficient for you a lot less time. You doing the traditional real estate side of things. Now you may not be aware. I have another video called should real estate investors get a real estate license.
So if you haven t watched that you may want to watch that video as well because in there disgust would it make sense to have a license whereas in this video. I m sharing with you the fact that you let s say you ve already maybe the conclusion..
You re gonna get your real estate license. Where you should hang. It okay so if you re painting you re a per transaction. Which you know that can range from let s say 300 to 600.
And there this might just be your mls dues. Which those can can vary they may come in fifty to a hundred dollars a year a month which turns out to like five hundred a thousand dollars a year. So if you do it this way you get to keep the rest of that commission 100. And not only is that a benefit that you get to keep the full commission right.
But the bigger benefit is the flexibility you have see when you have a broker. Most real estate brokerages are not a hundred percent. They are fifty fifty they re 6040 they re 70 30 you get the idea when you have that kind of arrangement. You don t get to tinker with how much goes toward commission and how much is your profit as a real estate investor because the broker wants their cut.
So now in a way you have a partner in every deal and especially if because i usually list these properties on the mls when i sell them after i rehab. Them we have great videos on the whole subject of selling houses and almost always you sell a house by putting on the mls. So. There s going to be some sort of listing agent.
Involved and if you aren t part of the broker. It s 50 60. 70 you get to keep. But you have to give this kind of number back to the broker they may not want you to tinker with that and reduce your commission to 0.
Because for tax purposes. You don t want to get the 1099 you d rather all that go to maybe your llc we have some the updated tax rules make it better for um pass through entities for example so i love the flexibility of the hundred percent of commission structure. Because it gives me flexibility from a tax perspective. It gives me flexibility and maybe i want to incentivize a seller or a buyer and do it legally so i love that about it and of course.
I get to keep all hundred percent. These these fees right here. But also as we talked about there s the benefit that you don t have a lot of other things you have to deal with i ve talked to real estate agents. Where and this is true story they have to go pick up cigarette butts along a street because the broker thought it was a good idea to sponsor that street good for the community.
So they re picking up cigarette butts for five hours rather than going and doing real estate making a lot more money where they can hire a cleaning company come in with the right equipment and go clean all that stuff up in 30 seconds. Okay. So. If you can avoid the traditional brokerage as a real estate investor.
You re gonna be a lot better off and like i was saying when you go into google search because that s the easiest way to find these people is just a google search them and these kind of brokers they come and they go so they ve been around a long time some come out and disappear you google search them and one of the things that you re gonna discover is you don t need to pick up one that s in your own hometown you just need a brokerage that can affiliate with your area. So for example. The brokerage. I m a part of they have orlando area tampa area daytona.
All the way down to miami in south florida. So they cover a large area because remember you re not going to an office. You just email things back to that broker so when you do a google search you can do it even statewide. Now the only kicker is if your state has several different mls regions.
You do need to associate or hang your license with a broker. That s in your mls region. And you might be asking me. What s your mls region.
Well you can google that you can call any real estate agent. Who has any listing and just quickly ask them what s the name of the mls that they use that s all you do so if you take this approach..
I think it s far superior to any other approach as far as hanging your license. Now this is where it gets controversial some people bring up the subject matter of training. I ll put those in parentheses. Training and the argument is made well the issue with a hundred percent broker is there s no training.
They don t teach you anything that s true they assume that you already know what you re doing because you re going to them as a professional real estate practitioner and you just need the benefits. But you don t need to deal with asking them a thousand questions so that is true they don t provide the training. However i think training is a mirage. I think from a distance it looks good.
But what you get closer you discover as a real estate investor that it s not necessary so let s think about that for a moment all right so when when i talk about training. I m talking about the idea they re gonna teach you how to make more money as a traditional real estate agent and there s two ways you make money typically as a real estate agent you make them either on listings. Which these are these are sellers of property that you re representing or you make money by representing buyers. I m just gonna call them buyers here buyer representations now let s break this down.
I don t wanna make this too simplified. But in a way it kind of is how difficult is it to sell a property seriously. It s insanely. Easy you list the property on the mls.
You make sure the pricing is right the pictures are right the descriptions right you make sure you put in the correct number of bedrooms and bathrooms. And whether it s got a septic tank or whether it s on city sewer. I mean you ve got some basic stuff you put in and then voila it gets sold now if you price it wrong. The pictures are bad you put the wrong information in it can be difficult to sell but literally this is how me and my apprentices.
This is how we sell thousands and thousands of deals over the last decade. We just list them on the mls and we do it correctly and we list them with a flat fee agent so we don t even get a listing agent involved to tell us what to do we do it ourselves. And it works incredibly well so flip that around and think to yourself. If you had to represent someone else s property.
How difficult is it to sell it s not you listed on the mls correctly. I m sure there s gonna be a lot of comments that came out about what i just said and how all there s so much more. I ve been a real estate agent for almost 15 years. I ve been a part of thousands of deals.
It s not more complicated than that okay moving on so the next is buyers. Representing buyers now can that be difficult okay willie. It s about understanding what the buyer wants being a good listener asking a lot of questions and then you may have to show them three five seven houses for them to even figure out what they want to begin with but once you know what they want then you show them what they want you will watch the hgtv shows. Where they give them three options and they pick one look being a real estate agent.
Representing a buyer is not rocket science either now if you don t do it right. If you don t ask the right questions. If you show them the wrong houses sure it s difficult. But figure out what they want and go give it to them then it s a lot easier now there are some there are some details within the negotiations and all that stuff.
But that s where being a real estate investor. You re already gonna know that you re gonna know the ins and outs of these contracts and of the negotiation techniques. Because you re a real estate investor in fact i would argue that as it relates to maybe. Helping friends and family as a real estate investor.
You aren t the best person for them to work with even if you just have your license. And you use your license on the side. Because think about it you re already in the mix of these transactions you re in the you re in the trenches. Because you are the buyer.
Sometimes you are the seller. Sometimes you know how to put yourself in their shoes..
So oftentimes. I m working with a friend or a fed member. I asked i asked him i said who s your other work with someone who s personally sold thousands of houses with someone who s personally been a part of buying thousands of houses would you rather work with that person or the agent who may have bought and sold maybe two or three of their own homes. But then represented other people otherwise right so you d much rather work with someone like me so.
I said that because sometimes there s the fear that you somehow aren t going to get the training here well my argument is how much training is really necessary ah. But there is one piece leads. So ultimately if selling the house is not that difficult if finding that the right house for the buyer is not that difficult. What s the difficult part about being a real estate agent.
Ah. It sleet. So. If you don t have any listing.
Leads or buyer leads. You starve. This is the hard part now as a real estate investor. You re already doing that especially.
If you watched my video on sid real estate investors get a license if you re generating enough seller leads because that s typically where the whole funnel starts then you re gonna generate some leads that are not good for investing they re good as a listing lead. I call them and so you re already generating. The leads. So you don t need that fancy 5050 broker for that either and then one more topic on that so often i see where people say well yeah.
But fill the differences with these 50 50. 60. 40. Brokers they have a big brand name that s true they do.
But i have discovered time and again that when it comes to this business. Both buyers and sellers of real estate are not nearly as enamoured by brand name as they are with someone who answers. The phone quickly who sounds knowledgeable and can get what they want and so since as an investor you re already generating the leads. You re already going to be connecting with them you re already going to be building rapport with them having the brand name doesn t actually matter much yes.
There is a small benefit when they see a big fancy brand name that they see on commercials during the superbowl. Yeah. There is a slight credibility benefit. There.
However. It s not enough to be worth 40 or 50. Percent of the commission. Because the key is the legion now when they typically what real estate brokers are going to do is teach you the training on how to generate leads that this this is also controversial that are going to make them wealthy they re 40 to 50 percent by making you just slug.
It out go door knocking and tons of direct mail and this that the other and those kind of techniques are not as efficient as some of the techniques that you do as an investor for li. Jin. So as an investor you re already lee jin of that system you re putting in places bought probably far more efficient than any training they re gonna teach you on generating leads oh. But there s one more reason why it makes so much sense for a real estate to an investor to associate with this kind of broker.
It s because they are going to be supportive. So let s take a look at their business model. The 100 broker is making money on a per transaction basis so they obviously want to do more transactions. But also most of these brokers typically affiliate with both a closing company and a mortgage company and they do it legally and they disclose and elected stuff.
But they typically make referral fees from both of those two companies. So they may even own those other two companies and so that s where they make their money..
Whereas. When we look at the other side both brand name and off brand name. When you have brokerage relationships. Where you re keeping 70 in the broker is keeping 30 or even more 50 50.
The broker is making their money from these huge cuts now yes they ve got expenses and all that good stuff. But where they re gonna make more money is by you doing more traditional real estate agency work. So what is it that they don t want you doing ding ding ding. They don t want you investing because investing is not making them money.
They don t want to invest time and energy into training you to be a traditional real estate agent. If you re going to go out and become independently. Wealthy and create wealth through real estate. Investing now they might say that they support it and oh we love when you do your own real estate investing deals.
But let s be real their economic model is built for you to continue being their living. Which also means that typically as i mentioned earlier a lot of times. What they ll do is their training is going to be geared toward this even in the way that they teach you how to do li. Jin making you do more grunt work.
Li. Jin so that they can pull the more what i call low hanging fruit lead generation techniques for themselves. And i know that s also controversial. But that s exactly how it works in the real world if you look inside the mind of the most real estate brokers.
And that s because of the basic economics here and so this economics was set up for you to be supported they want you to go out and do your own thing. Because that s not necessarily where all our money s coming from from you being traditional real estate agent jane or joe well i hope you enjoyed this video. I hope it was educational. I know it s a bit controversial because in a way the vast majority of real estate brokers alive out there are in this model.
There s very few in this model. And i m basically told every real estate investor in the world to associate with this group. So i m sure i ll get a little bit of hate comments. But it s the truth.
It s real world you come to me for signal. That s what i gave you all right well. If you would like to know more about how to become an incredibly effective. Incredibly efficient real estate investor consider my apprentice program where my team and i work directly one on one and we teach people how to become money making machines real estate professionals at the highest level.
We re not talking about one or two house flips. We re talking about one or two million dollars in house flipping positive net profits and also if you haven t already make sure you grab a copy of my book how to be a real estate investor. It s for free in the top right corner. Here.
And if you have questions comments hate. Let s go ahead and put them down. There. I always carve out time out of my schedule to check that out and thanks so much for watching this video.
I ll see ” ..
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