4 ms·

Ask HN: Has anyone become a licensed realtor just to save 3% on commission?

freediver 7y ago
Not yet, but when eventually selling my house in bay area might just do it. How hard is it?
pcvarmint 7y ago
Where do you live? Because in most jurisdictions, at least in North America, it is legal to list your house "For Sale By Owner" without a real estate license. [0][1] [0] https://www.investopedia.com/terms/f/for-sale-by-owner.asp https://www.investopedia.com/terms/f/for-sale-by-owner.asp [1] https://en.wikipedia.org/wiki/For_sale_by_owner https://en.wikipedia.org/wiki/For_sale_by_owner
whenchamenia 7y ago
I have acted as my own agent, but you are not required to be a real estate agent to buy your own home. Realator is a corrupt predatory orginazation, proporting to represent real estate agents, but mostly just control listings.
jeffdecola 7y ago
Just sell your house without a broker. No one is forcing you to use one. But there are a few caveats, the big one is not being in the MLS system, so buyers may never know about your house. Also, other brokers will not tell their buyers about your house. But if you're not in a rush to sell your house, try it out for a few weeks to see if you can get a buyer.
Silverwood 7y ago
I started my own firm that gives buyers a commission rebate in NYC. I didn't get the license in time for my own purchase. https://silverwoodbrokers.com/ https://silverwoodbrokers.com/
amerkhalid 7y ago
I just got my real estate license in Texas. The total cost of education, license, then signing up with broker and joining NAR, will be around $3,000 for the first year. Ongoing cost would be around $2,000 yearly. As an agent you will likely split your commission with your broker, usually 50% for new agent but you can find some that offer take only 30% or even less. For me, it was a little bit of impulse decision, we are planning to sell our townhome and move to a house in next few years. But also we have been looking into real estate investments. We need to close one transaction a year to breakeven on cost of real estate license. Probably not worth it but now that I have license and I will helping friends and family and hopefully it will be worth it. Also like others have said if you are selling your own home, you most likely don't need a license.

Not yet, but when eventually selling my house in bay area might just do it. How hard is it?

Where do you live? Because in most jurisdictions, at least in North America, it is legal to list your house "For Sale By Owner" without a real estate license. [0][1] [0] https://www.investopedia.com/terms/f/for-sale-by-owner.asp https://www.investopedia.com/terms/f/for-sale-by-owner.asp [1] https://en.wikipedia.org/wiki/For_sale_by_owner https://en.wikipedia.org/wiki/For_sale_by_owner

whenchamenia 7y ago

I have acted as my own agent, but you are not required to be a real estate agent to buy your own home. Realator is a corrupt predatory orginazation, proporting to represent real estate agents, but mostly just control listings.

jeffdecola 7y ago

Just sell your house without a broker. No one is forcing you to use one. But there are a few caveats, the big one is not being in the MLS system, so buyers may never know about your house. Also, other brokers will not tell their buyers about your house. But if you're not in a rush to sell your house, try it out for a few weeks to see if you can get a buyer.

Silverwood 7y ago

I started my own firm that gives buyers a commission rebate in NYC. I didn't get the license in time for my own purchase. https://silverwoodbrokers.com/ https://silverwoodbrokers.com/

amerkhalid 7y ago

I just got my real estate license in Texas. The total cost of education, license, then signing up with broker and joining NAR, will be around $3,000 for the first year. Ongoing cost would be around $2,000 yearly. As an agent you will likely split your commission with your broker, usually 50% for new agent but you can find some that offer take only 30% or even less. For me, it was a little bit of impulse decision, we are planning to sell our townhome and move to a house in next few years. But also we have been looking into real estate investments. We need to close one transaction a year to breakeven on cost of real estate license. Probably not worth it but now that I have license and I will helping friends and family and hopefully it will be worth it. Also like others have said if you are selling your own home, you most likely don't need a license.