115: Should You Become A Real Estate Agent? With Kevin Cross
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 23 December 2016
⏱️ 45 minutes
🧾️ Download transcript
Summary
#115: Obtaining your RE license isn’t that difficult in many states. Would this help you land deals for income property?
Yes, and there are tons of other benefits...and drawbacks.
Kevin Cross of Foundations Real Estate Experts is a savvy real estate investor, licensee, and former President of the Anchorage Association of Realtors. He tells us the advantages and disadvantages of getting your RE license.
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Listen to this week’s show and learn:
02:06 Keith likes BombBomb.com video-e-mail service and the Blinkist.com condensed reading app.
08:11 How can getting your RE license help you get into the deal flow?
12:20 Saving yourself the agent commission - and using that as a down payment.
15:06 The benefits you realize as an agent when you build a network of home inspectors, HVAC companies, roofers, etc.
18:27 When you sell property, act as your own agent. Referral fees.
24:59 Licensing requirements - educational hours, exam, licensing fees. Often $3,000 - $5,000 out-of-pocket to start.
26:55 Difficult to be a “part-time” agent.
28:48 You don’t get paid for 90 days.
31:16 Fiduciary responsibility and disclosure.
36:42 90% of sales are made by 10% of agents.
37:11 Do you split your commission with your broker? Must you have an office there?
41:06 After marketing fees and dues, agents earn about 1.5% per transaction.
Resources Mentioned:
Transcript
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| 0:00.0 | Get Rich Education is brought to by Ridge Lending Group, the Real Asset Investor, and Norata Real Estate. |
| 0:08.7 | Cash flow real estate investors. This is Get Rich Education's Keith Weinhold. Did you know that you can finance up to 35 income properties all with one lender? |
| 0:18.5 | Ridge Lending Group specializes in investment property loans, |
| 0:22.4 | and they do it in almost every U.S. state. |
| 0:25.6 | Ridge has worked with tens of thousands of real estate investors and homeowners all over the |
| 0:29.7 | country. |
| 0:30.7 | They've been doing this for investors for so long that at this point, they've helped |
| 0:34.7 | more families realize their dreams of becoming real |
| 0:37.8 | estate investors than any other mortgage lender in the country. To find out more, visit |
| 0:42.8 | Ridgelendinggroup.com. |
| 0:49.1 | Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else, and can provide you with more wealth and happiness than you ever thought possible. |
| 1:09.6 | Now, here's your host, investor, entrepreneur, |
| 1:13.6 | business owner, and educator, Keith Weinhold. |
| 1:20.7 | Hey, welcome to Get Rich Education. This is episode 115. I'm Keith Weinhold. Heard nationwide from |
| 1:27.4 | Schenectady to Sacramento and in 174 nations |
| 1:31.4 | from Slovenia to Sweden to Spain to Sri Lanka. This is get rich education. Would |
| 1:38.2 | becoming a real estate agent yourself help you land the good deals. That's what we're talking about |
| 1:43.5 | today. And boy, our guest |
| 1:45.5 | is really going to pull back the curtain on how real estate agents are basically involved in |
| 1:51.5 | legalized insider trading. Your favorite Slackshot blogger with Lofer's on is back here for |
| 1:57.6 | another wealth building week. And thanks for being here, but you're not here for me. |
| 2:03.0 | You're here for you. |
... |
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