I want to convince my parents to sell 1-3 of their 4 houses in Oregon and buy a house near me in Washington. The thing is my dad is a cheapskate, and the idea of him paying closing costs would be a huge hurdle for him to overcome. I had the idea of becoming a real estate agent in OR and WA so I could be their agent on the sales and purchase so that I can lower the cost for them. I briefly researched and looks like it may cost me around $3k to get the real estate license. I don’t have any specific questions, I would just like to hear any advice anyone can give on this idea. PS my mom goes in for a MRI soon for lump in her neck, I know we shouldn’t jump to conclusions but based on the symptoms it doesn’t look good. So it is important to me that I can succeed in getting them to move. Thank you so much in advance.
In Oregon you have to be associated with a real estate broker to be a licensed real estate agent. You might have to confirm if there's a broker willing to just let you sell a single house.
What a fucking scam
I wouldnt recommend doing it yourself. Best thing to do is 1031 exchange the Oregon property so you pay no capital gains
I think this is the one. Thank you so much.
Do not do this ... terrible idea from a risk standpoint. I don't even know where to start but you're exposing yourself to basically everything lol. You risk your dad being unhappy, not great to terrible depending on what he wants to do about it. You risk the seller being unhappy and making an issue once they find out the sellers are your parents.... You risk other family members coming at you for "making" your dad sell.... Keep an arms length on this, negotiate with a hungry agent and work a deal.... Plenty of other ways to save money here vs involving yourself and getting a license.
Thank you. Seems to be a unanimous decision.
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The $ you will leave on the table by doing it yourself vs with a good agent probably will exceed the 2-3% commission you'll save.
First of all, thanks for taking the time to give me some advice. Are you saying that, as an entry level real estate agent I will be out negotiated by a more experienced one?
Likely, but I think it'll mainly be around how to position (price, market, negotiate) the sale that'll be challenged.