Real Estate for personal use

**jitson** · 11-17-2007, 08:53 PM

Hi, I'm a newbie here. I've had my RE license for about 4 years and have only used it once when selling my home back in 2003. I am looking to hang my license with a broker. I plan on only a couple transactions a year for personal use. How do I go about finding one?

**Greg** · 11-18-2007, 04:30 AM

What you are describing is every agents nightmare. I am sure you will find some broker who will let you hang your license and then you can put some poor listing agent through the wringer. Some of us take this profession serious enough to make it a career.

**Codythebest** · 11-18-2007, 04:37 AM

Any broker will welcome your license...

**IggysListing** · 11-18-2007, 01:55 PM

What is involved in CA to be your own agency, i.e., broker in
charge?

**Mike Taylor** · 11-19-2007, 03:48 AM

Originally Posted by Codythebest

Any broker will welcome your license...

I wouldn't. There is too much liability involved in holding someones license who knows next to nothing and is not actively involved in real estate.

**Malok** · 11-19-2007, 06:25 PM

Originally Posted by Mike Taylor

I wouldn't. There is too much liability involved in holding someones license who knows next to nothing and is not actively involved in real estate.

Unfortunately, you would definitely be an exception.

There's a running joke for a couple of the larger brokerages where I'm at:
"Got a real estate license? Got a pulse? Then you are qualified to join."

**Jeremiah** · 11-19-2007, 07:08 PM

Check that your errors and omission insurance will cover you. The insurance in Mississippi does not cover personal transactions

**newagentfinder** · 01-17-2008, 02:47 PM

Doesn't it cost them money to hold the license for you in addition to any liability? What would be the benefit to them to hold it?

**bpolist** · 01-23-2008, 09:01 PM

as a broker/owner i think most brokers now a days would take just about any agent. with the slow market, its a numbers game, if you have 50 agents and they each do 2 transactions per year then your upto 100 transactions. all my agents pay for their expenses so it really cost me nothing to hold thier licenses except for the liability of course which im covered with the e and o insurance.

**Honeycomb Properties** · 01-26-2008, 10:57 PM

What you're hearing is that it will be easy for you to find a broker to hold your license. What you should look for is a broker that will help you when you do have a transaction. It's become too easy for people to obtain their license and have no real knowledge of what to do, what is required, and serious potential pitfalls. A brokerage with strong training and support should be your focus, rather than looking at what they will charge you or what your split will be.
While Greg was a little harsh, there is nothing worse than an agent that doesn't know what there doing on the other side of the table.