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Agent2Agent in 30328 : Real Estate Advice

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Stacey Wyatt, Real Estate Pro in Atlanta, GA
Sat Aug 22, 2009
Stacey Wyatt answered:
Woody,

I joined the Realtor ranks from the General Contractor profession myself, so I know the path you are thinking of traveling. The answer really depends on your "angle"; or how you plan on assisting your team, so I will offer you a few thoughts:

1. If your main focus is either Architecture or General Contracting, then I don't see the value for your team. Since you typically work for a third-party, usually a Developer or Property Owner, why would you need a license since they most likely already control the property? To obtain and maintain a license is a costly (both time and money) proposition if it is not providing a return on your investment. In other words, it doesn't make sense to just have a license... there are a lot of those people in the business.

2. Now if your approach is somewhat entrepreneurial and you will use it to find a piece of property so you can design and build a product then I could possibly see the point. However, keep this in mind... From the perspective of a Real Estate Investor, obtaining a license has more drawbacks than it has advantages. With the real estate license (similar to the GC licence) comes greater responsibility and disclosure. Most investors live and die by finding a "deal"... in other words an "undervalued" property... if they are dealing directly with Home Owners, especially those in distress, the investor only has their best interest in mind... not the Home Owners. A Real Estate license would actually put you at a disadvantage since you would be required to disclosure the market value of their home/land...

Keep in mind, that if this is your approach you will have to invest a lot of time to become a real estate "expert" in a given area. You have to look at a ton of properties and potentially make a lot of offers before you find a "deal". Do you have that kind of time and passion? This is where a full-time professional real estate agent can be very valuable... if this is what you want to become, then come on aboard... if not, I know a couple good ones you could use... wink, wink

3. If you take a more long-term approach and plan on buying and selling multiple properties... then you may want to obtain it sooner than later... once you have your real estate salesperson license... it will take 3 years to get your broker's license... why take a piece of the pie, when you could get nearly all of it...

Good luck and feel free to call me if you want to discuss further...
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