Why Did I get My Realtor License?
WHY I, AN INVESTOR, BECOME A REALTOR?
There was a time I was looking for a really good Real Estate Agent who understood the Investor's mind. Learning and growing as a Real Estate Investor, finding an Investor Savvy Agent was important. It was in a Bus Tour taken with one of the Rich Dad Education Series classes that I met a Realtor whom I thought would be perfect.
This Realtor set me up on her property search software (Listingbook), which I loved. When I asked for Comps for a property I was interested in and property lists, she told me I could do all that on my own through the Listingbook Software. She was good at referring me to her software and not so good at answering her phone or giving any interest to me and my needs.
Some friends of mine who were cash buyers were coming into town to become familiar with the Reno Market and potentially ready to put in offers on homes. I called my realtor a week in advance to let her know and asked her to set up some properties for us to look at. A few days prior, I confirmed our appointment. When the investors arrived we went to the Realtor's office, I introduced them all, and we sat down. To my surprise, the realtor had NO PROPERTIES TO VIEW for my investors... NO PRESENTATION about the market.... NOTHING, except a DOOM & GLOOM attitude about how all the "good investment properties" were getting snatched up by this heavy hitter (whom shall remain nameless) whom used to work there at her brokerage and ventured out on his own to create a different business model around distressed properties. We left her office after only 20 minutes of discussion. I was feeling empty, dissatisfied, frustrated, embarrassed, and pissed off.
So, in the Realtor's mind, this one guy was snatching up all the properties available. Seriously???!!!! This one guy had a monopoly on all of Reno, Sparks, Fernley, Fallon. Washoe County has a population of 421,000 people and growing, and this guy has control over all the inventory in the area??? I think not! Disappointment is an understatement. I apologized to my Investor Friends. Lesson Learned.
This experience is one of many with bad realtors that made me realize there was a need in the market. In 2014 I entertained the idea of getting my license by enrolling in a course at the local College. A friend of mine had went through the program with Ben Scheible at TMCC previously and loved it. I had a few conversations with Ben about how getting my license could hinder or help my career in Real Estate Investing for my own portfolio. Ben, who is a Real Estate Lawyer, helped answer some of my questions.
It wasn't until 2015 I finally decided to give myself a kick in the pants and make the move to Realtor/Investor. Signed on with an Investing Mentality Brokerage, Keller Williams (co-founded by Gary Keller). Best move I've ever made. Helping educate new homeowners and investors on making wise purchase decisions. Implementing some of my marketing used as an investor, and passing on my knowledge to others to help them make wiser choices in Real Estate.
My license has opened doors not originally available as an end user investor. I've been invited to & attended the local 1031-Exchange group's meetings, I've been allowed to utilize the Brokerage facility for the Investor's group I've been leading since 2013. With over 200 agents and growing within the brokerage, Pocket Listings are made known for my clients in advance to them being available to the general public.
Now, Reno has at least One Investor minded Realtor, (ME), who can help with the thinking outside the box mentality. I can be the Realtor who helps people with investments and answers questions like, "What kind of ROI am I going to get?" or "Will this Cash Flow?" Or "What's the CAP rate on that one?" without looking cross-eyed and dumb-a-fied. I love filling the need and knowing my stuff and feeling like I'm helping others obtain knowledge and acquiring the best investment vehicle since sliced bread! LOL!
-Ginger Marphis, Realtor/Investor
Keller Williams Group One, Inc.
Comments
Post a Comment