Expert: Hans Weber, Licensed Broker Associate - 7/25/2005

Question
Hi Hans,
I am a licensed acupuncturist interested in learning how to buy/sell real estate...or maybe start up as an agent.  It's interesting that both my Western and Chinese astrological profiles mention that I should consider real estate as a primary career.
What would I need to study first...I assume one must obtain a license to begin? Could I work from my own office or home after training or licensing..or would I need to be connected to an agency? Also, I've been told that I should try "real estate seller carryback mortgages" Would you please explain what that phrase means?

Thank you very much!

Mike Eidson, LAc.

Answer
Hi Mike,

Thank you for your question.

Real estate can be an exciting field.

Start up can take some time and many people do last.

First you must apply for a license by taking a real estate agents course exam and pass.  Next would be to take and pass the state test.  Then you need to have a real estate broker agree to hold your license and you would then be the responsibility of this broker/office.  You are able to work from any location as an individual, but your license must be with a broker's office.  So, you could work from home.  
The next step is to begin accumulating clients, buyers & sellers and matching people with property.  It can be a very exciting business or nothing depending on the individual and effort put in.

Carry back mortgages refer to seller type financing .  It is a way to sell a property without a bank mortgage.

Good luck.

Hans