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Cost and time of becoming an ad-hoc agent
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anforowicz
Bubble Watcher
Joined: Mon Apr 02, 2007 12:02 pm
Posts: 40
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 Cost and time of becoming an ad-hoc agent Hi,
How costly and time-consuming is it to become a real estate agent?
I think that I will be ready to buy a house around April-June 2011 (yes, not next year / 2010, but a year+ from now). I think (although I still have to double-check) that the legal benefits at my company cover representation by a real estate attorney when buying a primary residence. I heard/think/believe that there are online courses one can take to get a real estate license and then for a flat monthly fee I can work with Skyline. This is a potential (although probably a bit far fetched) alternative to using a buyer agent. I am also considering going with RedFin or with one of other buyer agents that take only 1% commision.
Thanks,
Lukasz
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| Thu Nov 05, 2009 7:37 am |
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Dave0
Bubble Blatherer
Joined: Thu Jun 14, 2007 4:15 pm
Posts: 57
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Re: Cost and time of becoming an ad-hoc agent Pretty easy. See http://www.dol.wa.gov/business/realesta ... cense.htmlI haven't done it, but all you have to do is take the course (offered all over the place online, or in person at places like North Seattle Community College among others I'm sure), take the exam (which I've heard is a cakewalk as long as you actually attempted to learn something in the course), and pay close to $150 for the license (plus close to that amount each year to renew). I'm about to take the course for this at NSCC because I'm working on getting their appraiser certificate. I'm probably not going to become licensed as an agent though because I just don't feel like paying the fee.
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| Thu Nov 05, 2009 8:05 am |
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ira s
Bubble Bloviator
Joined: Mon Jan 28, 2008 10:05 am
Posts: 284
Location: Seattle, WA
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Re: Cost and time of becoming an ad-hoc agent Lukasz,
If your employer will pay for using a real estate attorney for the home purchase, why do you need to become an agent?
Yes, Skyline and others will charge you a flat fee per month to get 100% commission, but you don't take home 100%.They add on to the monthly fee, and then they'll deduct L and I, B and O, transaction fees, etc, plus getting the electronic key will run about 12 ish dollars per month, and access to the MLS another thirty dollars per month.
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| Thu Nov 05, 2009 8:52 am |
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anforowicz
Bubble Watcher
Joined: Mon Apr 02, 2007 12:02 pm
Posts: 40
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Re: Cost and time of becoming an ad-hoc agent ira s wrote: If your employer will pay for using a real estate attorney for the home purchase, why do you need to become an agent?. I was mainly thinking about the convenience of having my own "electronic key" and being able to see houses on my own schedule, without 1) requesting a showing from a seller's agent or 2) having to pay for and then schedule showings with a buyer's agent. Thanks, Lukasz PS. I can't find right now how much RedFin charges for home tours... I would swear that it was somewhere on their webpage.
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| Thu Nov 05, 2009 9:16 pm |
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ira s
Bubble Bloviator
Joined: Mon Jan 28, 2008 10:05 am
Posts: 284
Location: Seattle, WA
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Re: Cost and time of becoming an ad-hoc agent I think I remember that Redfin no longer charges for tours. When they did that they also reduced the amount of commission they gave back.
Having the electronic key is great, but you can't just barge in. You have to look at the agent remarks in the MLS listing and see if the place is occupied. If it's being rented, you often have to make arrangements 24 hours in advance to legally notify the tenant.
A few months ago I went to go show a house to some clients. The agent instructions said call first, and if there was no answer, just come over. So I let us in with the electronic key and the first thing we see is a guy passed out drunk on the living room couch, and many beer bottles strewn throughout the entire house. The kitchen had a very strong odor of rotting meat. For some reason I get the feeling they weren't paying a stager for all that.
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| Fri Nov 06, 2009 7:48 am |
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