Real Estate Agent Slash Investor

[UTCVenturesLtd]

My realtors in Pincher Creek have been putting the bug in my ear to become a realtor and join their team.

I am more of a fix, stage and flip investor. I have always heard that you have a fine line not to cross when you are a realtor and an investor combo! I know that you do have priviledged information, but would have to be careful exercising what you do with it. Just wondering if that combo works in the real world or better to be one or the other but not both???

 

[tahani]

hello. I am a Realtor and an Investor. This is a great question and i get asked all the time about it. You can for sure do both. The fine line is you must always disclose and disclose in writing.



The public look at us as experts and seller sometimes they think we know something they don’t and that’s why you need to disclose.



The other thing you have to ask your self why you want to be an agent. Is it because someone says so or what is it for you. very important





Even though both are great roles and fulfill me in different ways, I prefer the investor role more .



Good luck.

 

[tonypeters]

I agree with tahani 100%. The BIG issue is "disclosure". I personally refrained from obtaining my real estate license as I was NOT interested in listing properties and making a living in that fashion. I have access to EVERYTHING that I need through my own realtor, so the decision was easy for me. Hope this will help you with your decision?

QUOTE (UTCVenturesLtd @ Oct 8 2009, 03:43 AM) My realtors in Pincher Creek have been putting the bug in my ear to become a realtor and join their team.

I am more of a fix, stage and flip investor. I have always heard that you have a fine line not to cross when you are a realtor and an investor combo! I know that you do have priviledged information, but would have to be careful exercising what you do with it. Just wondering if that combo works in the real world or better to be one or the other but not both???

 

[RedlineBrett]

You can certainly do both... I have been for over four years now. I have found that each aspect of my business has made me better at the other. Precious few Realtors know Calgary income property like I do... and very few investors know the trenches or negotiate as much as I do...

I am definitely a more savvy real estate person as a result of the double-duty.

But you should want to get your license.. not do it because your realtor/broker wants you to join their company.

There are also endless pitfalls of liability and disclosure when you have your license and trade on your behalf. RECA is quick to nail realtors to the wall for doing shady deals or pulling the wool over the eyes of a non-member.

You will also be working for others, albeit on a `contract` basis, rather than working solely for yourself. Many investors can`t stomach that and like to drive the bus all the time.

 

[gwasser]

QUOTE (RedlineBrett @ Oct 8 2009, 09:54 AM) You can certainly do both... I have been for over four years now. I have found that each aspect of my business has made me better at the other. Precious few Realtors know Calgary income property like I do... and very few investors know the trenches or negotiate as much as I do...

I am definitely a more savvy real estate person as a result of the double-duty.

But you should want to get your license.. not do it because your realtor/broker wants you to join their company.

There are also endless pitfalls of liability and disclosure when you have your license and trade on your behalf. RECA is quick to nail realtors to the wall for doing shady deals or pulling the wool over the eyes of a non-member.

You will also be working for others, albeit on a `contract` basis, rather than working solely for yourself. Many investors can`t stomach that and like to drive the bus all the time.

Hi Brett,

I am following a similar path as you in learning all this realtor stuff. Although I am now just starting with REAP III. So give me a few months and I`ll be there with a licence as well. I noticed you have opened your own brokerage. Wow, that takes courage.

Anyway, I wanted to thank you for your excellent remarks they help me to realize that it is worth doing this stuff. An yeah, if I only wanted to be an investor, I would become like Ron LeGrand. But if you like to help people get a start in finding their residence or later on getting their dream home, I guess you have to become a realtor. I think that it will also be very satisfying helping fellow investors, especially the beginners (including referring them to REIN).

Godfried

 

[RedlineBrett]

QUOTE (gwasser @ Oct 8 2009, 04:35 PM) Hi Brett,

I am following a similar path as you in learning all this realtor stuff. Although I am now just starting with REAP III. So give me a few months and I`ll be there with a licence as well. I noticed you have opened your own brokerage. Wow, that takes courage.

Anyway, I wanted to thank you for your excellent remarks they help me to realize that it is worth doing this stuff. An yeah, if I only wanted to be an investor, I would become like Ron LeGrand. But if you like to help people get a start in finding their residence or later on getting their dream home, I guess you have to become a realtor. I think that it will also be very satisfying helping fellow investors, especially the beginners (including referring them to REIN).

Godfried

Thanks Godfried. Opening my own brokerage is part of my own `Belize` so I am very happy to be getting it off the ground. I have a couple business policy items to tweak and then I`ll do a formal launch on a post here and tell everyone all about it.