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Buying or Selling a Home/fixer uppers
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Question
So, my family & I are going into the real estate business. More specifically, buying fixer-uppers and selling them. We want to get the lowest possible price on the homes we buy. Therefore, we are considering that I get my broker's license in order to do so. Is there truth to this? What are the pros & cons of having a broker's license & is this the most beneficial way to get the "deals" on houses? Is it required to obtain a brokers license to buy and sell homes for a profit? Also, is there a limit as to how many homes a year you can buy and then sell without a brokers license? I am in Colorado is that make any difference in your answer. Thank you in advance for your time.
Dear Vanessa;
It is to your benefit to get your broker's license since you will be able to network with other brokers and get in on some deals that might otherwise allude you. In addition, you will have more access to records and vital information that will allow you to determine the best deals and the resale values in certain areas. Without the license you are 'shooting in the dark'. You do have certain liabilities with a broker's license but not much more than an individual. For example, you cannot misrepresent something without being liable for it. The same would hold true as an individual the only difference being that you would perhaps lose your license. In short, I can't really think of a down side to getting your license.
Good luck and best wishes,
Jessica Bryan
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Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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