Agent2Agent in Lancaster>Question Details

Justin F., Both Buyer and Seller in Lancaster County, PA

Does having a real estate license restrict your investment possibilities?

Asked by Justin F., Lancaster County, PA Mon Feb 16, 2009

Just wondering, because I hear so many different things. I heard that it doesnt and the opposite. So someone enlighten me please. If you can I would like some detail to this question because I am very confused. Thanks

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9
Not at all,but you absolutely must disclose that you are an agent. this is crucial.
1 vote Thank Flag Link Mon Feb 16, 2009
Disclose that you are a liscensed Real Estate agent(salesperson,Broker etc..), nobody is a licenced Realtor. There is no such thing as a Realtor License.
0 votes Thank Flag Link Tue Feb 17, 2009
It is beneficial to be a Realtor as an Investor, since you see all the properties as they come on the market and you know to be prepared to purchase (financially). You just need to disclose on an Agreement of Sale that you are a licensed Realtor. Good questions, Justin!
0 votes Thank Flag Link Tue Feb 17, 2009
Justin,

Looks like you have had some good answers already. The key is disclosure when you are buying or selling a property. It should be stated on the agreement-of-sale. Like Terrance said, some bank owned or REO listings will not allow the agent to collect a commission when acting as a buyer. I have never really understood why but that is another story ! But the bigger picture is that when dealing with consumers and entering transactions disclosure is critical. Good luck !
0 votes Thank Flag Link Tue Feb 17, 2009
Justin,
As far as i understand, the only extra thing you need to do when you are doing investment when you do have a R.E. License is to disclose it to all the parties. Other than that its just another regular transaction.
0 votes Thank Flag Link Mon Feb 16, 2009
The only reason I think would put you at a disadvantage is the fact that you will be a 1099 employee. Which is self employed and you will have to show two years of income in this field for financing.
0 votes Thank Flag Link Mon Feb 16, 2009
No it does not limit opportunites matter of fact makes life easier. I or my investment group purchase over 200 homes in 15 years... made serious money
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Mon Feb 16, 2009
Hi Justin,
I would say it is just the opposite. You will have access to all listings as soon as they go on the market via the MLS so you will know about them before the public does. When you write an offer for any property, you have to disclose that you are a licensed Realtor, same as if you list your own property. Hope this helps.
Web Reference: http://CherylFuss.com
0 votes Thank Flag Link Mon Feb 16, 2009
Absolutely not, having a real estate license does not restrict you. However, you MUST state openly in the listing, if you're selling, or the agreement of sale, if you're buying, that you are a licensed real estate agent. Also, some foreclosure or short sales which are on the market will not allow you to collect the commission if you are the principal (person buying the property).

Hope that helps,

Terrence Charest, e-Pro
0 votes Thank Flag Link Mon Feb 16, 2009
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