the general public when one or other of the parties are licensed agents. Please research those and understand what those are prior to getting your license solely for purchasing and selling only a few properties. There are many business models that are low cost and I'm not sure the tradeoff would be worth it if you are only doing a couple of properties.
Another thing to consider is that it is not mandatory in Texas for brokers to carry E & O insurance so be sure they are carrying the neccessary insurance. It amazes me how many don't carry it. Many E & O carriers disqualify personal properties sold so be sure you have coverage and what that coverage would be in the unlikely event a buyer or seller decided that an agent representing themselves is a great target for a lawsuit. If you are unsure--you can as an agent purchase E & O as an individual. Try convincing a judge that you knew nothing--the judge will assume that the agent had a much higher knowlege base as opposed to the consumer.
Just some items to consider from a brokers perspective..
When looking for a broker to hold your license, I would look for a small boutique style firm that does not require anything from you, like phone duty, desk fees, ETC. you have choices so just interview them and look for who will best fit your needs. Hope this helps your process.
Robert H. Nelson, Broker
The Associates Austin
Have a blessed day!
It's possible that business is differnent in Texas, but in California our brokers expect us to contribute to the company by working to produce income for them (as well as ourselves). I think you would be hard pressed to find a broker willing to take on the liability of an "agent" who is not actually working as an agent .
If you would be willing to contribute most of your share of the commission to the office, you might be able to strike up a deal. I guess the only way you will know for sure, is to make some calls and get some real committments from brokers in your area.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
You would be able to find a Broker and work something out.
However, I have a question for you, how much property are you talking about. You are about to embark on some substantial time and monies in order to get your license. You may want to sit down with an agent and really look at the commitment you are about to make and see if it is justified with your long term goals. In no way do I want to thwart your plans, just making sure you look at the big picture. There may be other ways to achieve your goals, give me a call if you want to talk.
Good Luck to you in your endeavors.
Sonia Roberts, Realtor
At my brokerage, you keep 100% of your own purchases. I do recruiting for our company so please feel free to contact me if you like. I'm at 512-466-8252 or you can email me. See below..
Vox Real Estate LLC