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Old 08-21-2012, 11:38 AM
 
Location: Needham, MA
6,324 posts, read 9,026,282 times
Reputation: 5324

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Quote:
Originally Posted by marksmu View Post
Because she is my aunt and understands what I am doing and is happy to help family. I am also reimbursing her for all her additional E&O insurance and other direct costs.

Two years from now I will be a broker myself and it wont matter.
Great! I hope that since this is your aunt that she is taking you under her wing.

 
Old 08-21-2012, 12:50 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 12,672,404 times
Reputation: 3809
Quote:
Originally Posted by marksmu
Brokers/Agents should learn from this thread...I know I sure did. It prompted me to become an agent...which should be complete in about 2 more weeks. With the course work already complete, now I just need to schedule the exam....Ive already lined up a Broker...I dont intend to change my practice of not charging those who come to me from my company, but at least now I can, without angering agents/brokers ensure that the buyers are able to receive back in closing concessions the buyers 3% without all the confrontation.
How long does it take to get the sales license in Texas?
 
Old 08-21-2012, 01:45 PM
 
Location: DFW - Coppell / Las Colinas
29,922 posts, read 34,526,470 times
Reputation: 35919
I would not think an attorney licensed to practice law would want the additional exposure and risk of represention in a RE transaction without making something for his time.

Quote:
...I dont intend to change my practice of not charging those who come to me from my company
Lot of risk with no reward.
 
Old 08-21-2012, 02:01 PM
 
1,722 posts, read 2,270,054 times
Reputation: 3414
Quote:
Originally Posted by Captain Bill View Post
How long does it take to get the sales license in Texas?
Salesperson license I believe is 210 hours of classroom credit and you have to pass the test....Im not 100% sure...I only had to do 60 hours in principals of real estate b/c my law classes carried over...I still have to take the test...I just completed the classroom time online.

Brokers license is 2 years after becoming a salesperson.
 
Old 08-21-2012, 02:09 PM
 
1,722 posts, read 2,270,054 times
Reputation: 3414
Quote:
Originally Posted by Rakin View Post
I would not think an attorney licensed to practice law would want the additional exposure and risk of represention in a RE transaction without making something for his time.



Lot of risk with no reward.
I am getting paid for my time by the company. In terms of insurance I am already covered extensively by my E&O through my company. I have already talked with our insurance salesman and it was a negligible change in cost for the company. We are already a well insured company.

The largest cost was adding me to my aunt's policy b/c she is much smaller...I will reimburse her for that, and I will be reimbursed through the company...one purchase of commercial property for the company will more than recoup the insurance costs.

Not everything is about money....we do alot of nice things for our employees to keep them here...

I decided to get my license just b/c of this thread....I am not getting reimbursed for that cost and it was about $1000 after it was all said and done.

All you realtors really seem to be petrified of the risk....I understand the risks, but I believe you guys are excessively worried about it.
 
Old 08-21-2012, 03:44 PM
 
Location: Oro Valley AZ.
1,024 posts, read 2,244,109 times
Reputation: 1179
Quote:
Originally Posted by marksmu View Post
I am getting paid for my time by the company. In terms of insurance I am already covered extensively by my E&O through my company. I have already talked with our insurance salesman and it was a negligible change in cost for the company. We are already a well insured company.

The largest cost was adding me to my aunt's policy b/c she is much smaller...I will reimburse her for that, and I will be reimbursed through the company...one purchase of commercial property for the company will more than recoup the insurance costs.

Not everything is about money....we do alot of nice things for our employees to keep them here...

I decided to get my license just b/c of this thread....I am not getting reimbursed for that cost and it was about $1000 after it was all said and done.

All you realtors really seem to be petrified of the risk....I understand the risks, but I believe you guys are excessively worried about it.
That is a very nice perk for your company to offer to it's employees! The company is paying you for your time, is that just for the time to write and process contracts or does that include showing properties on nights and weekends, etc? Always interesting to hear some of the "out of the box" things that some companies do to retain employees.
 
Old 08-21-2012, 04:08 PM
 
Location: Needham, MA
6,324 posts, read 9,026,282 times
Reputation: 5324
Quote:
Originally Posted by marksmu View Post
All you realtors really seem to be petrified of the risk....I understand the risks, but I believe you guys are excessively worried about it.
My wife is very fond of this old saying which I think applies nicely here: fear is a sign of intelligence.

Quote:
Originally Posted by RickTucsonHomes View Post
That is a very nice perk for your company to offer to it's employees! The company is paying you for your time, is that just for the time to write and process contracts or does that include showing properties on nights and weekends, etc? Always interesting to hear some of the "out of the box" things that some companies do to retain employees.
Very nice! I can't think of a single company I've ever worked on behalf of that didn't want a referral fee.

Mark, I hope your company is paying you enough that you don't mind working 24/7 because that is what a real estate agent who has their client's best interests at heart does. I also often miss out on family activites and generally fun things many of my friends are doing because I'm working. My meals are often interupted by my phone ringing and I also get to have people look at me like I'm a snake oil salesman when they find out what my job is. I hope whatever your company is paying you is enough to endure that because it's just the tip of the iceberg.
 
Old 08-21-2012, 04:22 PM
 
Location: Salem, OR
13,741 posts, read 31,556,293 times
Reputation: 12105
Quote:
Originally Posted by MikePRU View Post
My wife is very fond of this old saying which I think applies nicely here: fear is a sign of intelligence.



Very nice! I can't think of a single company I've ever worked on behalf of that didn't want a referral fee.

Mark, I hope your company is paying you enough that you don't mind working 24/7 because that is what a real estate agent who has their client's best interests at heart does. I also often miss out on family activites and generally fun things many of my friends are doing because I'm working. My meals are often interupted by my phone ringing and I also get to have people look at me like I'm a snake oil salesman when they find out what my job is. I hope whatever your company is paying you is enough to endure that because it's just the tip of the iceberg.
I don't work 24/7 and I absolutely have my clients' best interest at heart. My meals are never interrupted since I don't answer the phone during them. I rarely miss out on family activities because I schedule around them. My clients aren't going to die if I can't show them homes at 9am on a Saturday to attend my son's soccer game. There are no real estate emergencies.

Since he is offering a free service to employees and they would get a rebate, he could only show homes during the business week and get away with it.
 
Old 08-21-2012, 04:46 PM
 
3,404 posts, read 4,138,299 times
Reputation: 2397
Not sure why any of you care what Mark does with his commission or what brokerage took him on and why. I'll let that be their problem. What I can't figure out is why it took this thread for him to understand that in order get a buyers agent commission you need to be a buyers agent.
 
Old 08-21-2012, 04:53 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 12,672,404 times
Reputation: 3809
What I can't understand is why a company has a salaried attorney, and would allow him to sell real estate on company time.
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