Bidding on Crazy priced homes

[usctrojancpa]

Instead of becoming an broker, you can always become an agent.

$99 for the 3 classeshttp://californialicense.com/california-real-estate-license-new3.html

Free state exam test prep at Tarbellhttp://www.tarbellcareers.com/crash-course.html

Take the state examhttp://www.dre.ca.gov/Examinees/TakingExam.html

Join the MLShttp://www.ocar.org/

Join a 0 commission brokerage like thishttp://joinrealtysource.com/

Now you are in completely control of your own destiny as well saving yourself thousands of dollars.

If you become an agent, you will have to select a broker to hang your license under.  There will a cost to that...brokers make their money of off commission splits, transaction fees, monthly dues (to hang your license), and/or royalty fees.  Discount brokers may offer a 100% commission split to the agents but you will have to pay a monthly due to hang your license and transaction fees for every escrow you close (doube fee if you double dip).  Being a broker you take out all of the hose costs but you will want to get E&O insurance in case you do transactions for people other than yourself.  You will also have to maintain your own files and set up a broker bank account for the DRE to audit you at any time.

 

[JakeRoberts]

Not endorsing realty source, just using as an example
They offer a no monthly fee, flat fee of $599 at closing which includes e&o insurance
And if you want, they also have an in house transaction coordinator for $299
So you are looking at a possible $900 in closing fees.

 

[usctrojancpa]

Not endorsing realty source, just using as an example
They offer a no monthly fee, flat fee of $599 at closing which includes e&o insurance
And if you want, they also have an in house transaction coordinator for $299
So you are looking at a possible $900 in closing fees.

I've looked into multiple discount brokers and even though I pay a bit more with my broker.  He has a license in 5 states so if I ever felt like re-instating my NV license I can hang that license under him at no additional cost.