So I got a CA real estate license earlier this year because I don’t want to pay the absurd commission when I buy/sell my house (Silicon Valley, CA) - 🙄 I have many friends in Tech facing the same issue in the Bay Area. I help them as a buyers agent / sellers agent and give them as much $$$ back because… why not. I don’t actually need the money. My brokerage is Intero. DM me if you would like to work with me. I think I can really help a lot of people here. 🙂 *Please keep this on Blind - I don’t think anyone from my brokerage is on Blind 😬😆❤️ #personalfinance #investments #realestate
How hard was it to get your license? Could you give an effort level and time it took to prepare?
You take an online course that give you 3 certificates. You use those certificates to signup for the exam. You take it. All took about 6months. That is because you have to signup for exam and processing time is long since you have to mail your application. After the exam, you have to mail in another application to apply for the exam. So I would say 3 month to complete course, 1 month to complete exam, 2 months processing time. Course difficulty = 0 Exam difficulty = leetcode easy Fitting in as Realtor = learn to smile and spew some BS lol —> prolly leetcode hard for many here
What online course did you take?
Is it right time to buy ? Or too hot and we should wait out ?
Bay Area market still 🔥. Transactions/Trade volume is high, so RSI > 70 if you trade lol. As for is it right time to buy? That is the century old question and no one knows, sorry. Every agent would say yes though lol.
How much work was it to get a license? Any resources you would recommend?
See my response above. If you are serious about getting a license, DM me and I can help. Keep in mind that there are continual cost of being an agent -> realestate board fees + MLS membership fees + key fees + brokerage business fees (can prolly get out of this one), so monthly cost of maintaining your agent status can be around 500$ The agent monthly cost is also why I am posting on here so we can all mutually benefit lol
Thanks! How would those $500 split roughly between the items you listed? I bought a house recently and was trying to self represent, but realtors make it super hard; if I had a realtor’s license it would have been much easier. Would have saved me north of $30k.
How many homes are you willing to show?
Also are you rebating the money outside of escrow or within the escrow?
Looks like too much overhead - $500 per month to hold license
What about taxes on your commission income? Are you going to show the cash back return on paper? If yes, then Intero would know about that. If not then you will need to pay taxes
Shopprop gives even better deal. I recently got ~$30k Cashback for a $1.2M home.
OP, can I please DM you ? This is for real estate. License
Will you give the full 3% back? Or 2% back?
Probably cant do full 3% since they have to pay the broker
Let’s say as a buyer: Buyers agent commission is usually 2.5% in the Bay Area: 25% of that goes to the broker (Intero) 75% I get! So let’s say you buy a 1 million $ house: I get 2.5% * 1 mil * 75% = 18.75k I will accept a flat fee of 5k So you would end up getting 13.75k to cover your closing and then some. So it’s pretty chill 👌