Wholesaler Or Salesperson?
Hi,
I'm in the state of GA. I recently went on an interview to get involved in real estate, and the interviewer explained that I could get take some courses, get prelicensed and work with agents to sell houses. After a little research I've found that I would be a "real estate salesperson".
I've also heard about birddogging, so I also researched this and wholesaling or jobbing, and am wondering if this is any different than being a salesperson. (With the exception of a license and schooling)
Can anyone help me with the difference and/or pros and cons of the two?
Thanks,
lenee
You've got to ask yourself whether you want to work for someone else for peanuts(sales person) or work for yourself for freedom (wholesaleing) where you actually make a profit that goes directly into YOUR pocket. Let us know when you make the decision.
Salesperson does not have to work for someone else, nor does he have to work for peanuts.
Salesperson - gets paid a commission for brokering a deal. Must be licenced and must hang his lic. w/a broker. Broker will take minimum 10% or at least desk fees.
Most lic. agents are independent contractors, so indeed they work for themselves.
A good agent can make a couple grand a year...AND still be an investor. He can also can be a good bird dog - but work on a commish basis.
If you want to get into real estate investing full time but need a job to pay the mortgage while stuff gets going, in my opinion there is not a better field than beng an agent or broker. It puts you smack in the middle of alot of deals.
Many investors prefer not to have a licence and the liability thatt comes with having to disclose everything when you make your own deals. I am a broker and an investor and I think having the lic. outweighs the negatives.
I still work with other agents and pay full commish if they bring me the deal however.
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ty GFous for your info.
What are the advantages of having a license? So if you have a license and are a birddog, you can only get paid on a commish basis? Can't set ur fees? I have heard the thing about people not liking lic. bcuz they have to disclose all info. I dont really mind that, because I personally don't like misleading people by withholding information. Just a personal credo.
Considering my situation, I think what I will do is begin by birddogging, and when I get in a position to get in school for licensing, I'll see whether I'm comfortable sticking with birddogging or if I'd like to get licensed.
they take more than 10%....
if you want to be an investor do so.....
if you want to expose yourself to the rat race and legal liabilities...get licensed...
Well definitely, this company that I interviewed with was taking WAY more than 10%. They were takin at LEAST 20%, at the most they were taking 50% depending on what the agent was earning.
Quote:
On 2003-09-21 21:18, fly_birddog wrote:
ty GFous for your info.
What are the advantages of having a license?
You get full MLS info. If you buy a listed property your self you can still get apid commission. You have a source of income.
I got my licenxe after 15 years of doing my own deals.
So if you have a license and are a birddog, you can only get paid on a commish basis?
In the Stae of FLorida ( Mine) you cannot charge refferral fees or fineder fees or birddog fees unless you are licences.
Can't set ur fees? I have heard the thing about people not liking lic. bcuz they have to disclose all info. I dont really mind that, because I personally don't like misleading people by withholding information. Just a personal credo.
I also have no problem with full disclosure. Actually this law applies to sellers as well. The disclosure that some agents talk about not liking is having to tell the other party that they are an agentt and an "expert" It puts the other party on alert.
Considering my situation, I think what I will do is begin by birddogging, and when I get in a position to get in school for licensing, I'll see whether I'm comfortable sticking with birddogging or if I'd like to get licensed.
Also a comment on caommission rate. The good agents keep 90%. The beginners may keep only 60%. There are many agencies like Remax and Sellstate that let you keep 100%. It all depends on the agency and what you get from them like advertising dollars etc.
I have my own agency ( I am a broker) and pay 90% to some agents and ^0% to some.
I am really just learning about "bird doggin" on these forums.
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