Submitted 06/13/12 06:49 PM
Q. Hello, all! I just got my real estate salesperson license and I have an employing broker who is also a Realtor. Unfortunately, she only deals with property management and does not have any sales experience. I want to represent myself because I'm looking for a house to purchase (for myself). My broker agreed to give me the entire commission since I will be doing all of the work. Can I represent myself even though I am not a Realtor? Do I have to become a Realtor and have my own paperwork, etc. to make an offer or can I use the broker's (with her consent, of course) since I'm working under her anyway?
Submitted 06/13/12 07:07 PM
A man who is his own lawyer has a fool for a client. Sound familiar? You can represent yourself, I have and I have not.
Here's the difference: on my personal residence, I always have a Realtor friend represent me; too emotional. On my investment properties, I represent myself: it's all numbers, no emotion.
It's complex, plus it's free and why would you take the commission over a lower price based on no commission?
Submitted 06/15/12 08:50 AM
Your question is a little confusing, as you use "Realtor" as if it means "agent" - which it doesn't. A "REALTOR(R)" is specifically a NAR member. If you're asking if you need to be a NAR member to do transactions, you certainly do not. In the recent down market a large number of agents in my area dropped their NAR memberships but continue to work as agents. We now have many "non-REALTOR(R)" brokerages in Silicon Valley.
With regard to representing yourself in the purchase of your home, my recommendation is to employ the services of an experienced residential agent and split the commission, if they're willing.
Submitted 06/15/12 07:17 PM
Oh geez another "real estate agent" in the business that doesn't know their backside from a hole in the ground. Since you even need to ask this question . . . you aren't capable of representing yourself in a real estate transaction, that's very clear by your question.
Submitted 06/16/12 10:39 AM
It's better if you let an experienced agent represent you so you can follow the transaction and learn. Ask the experienced agent if they will split the commision with you.
Submitted 06/19/12 03:45 PM
First, congratulations on getting your salesperson license! Gaining experience in the real estate industry begins with your first transaction. Your employing broker is required to supervise the activities of salespersons under his/her license. This may include transaction training and general guidance with your transactions.
A Realtor(R) is licensed salesperson or broker who is a member of NAR. Only members may use the term Realto(R)r. If your broker is a member through his/her local association, then you would be required to join NAR to match the broker's membership.
When you placed your license with your current broker, did you have a clear understanding of what the broker offered in terms of training, or providing support to your sales activities? At the risk of being rude, I beg to ask the question of why you would associate with a broker with little or no sales experience unless it is your goal to participate exclusively in property management with this broker?
As a licensed salesperson with an employing broker you can absolutely represent yourself in your home purchase. Be sure to disclose the fact that you are an agent in your transaction. These and many other questions should be directed to your employing broker, but it is wonderful that you have reached out to this community for support.
As a licensed broker I recommed that you consider getting a mentor to guide you through your first transaction. The mentor could be another agent in your broker's office.
Good luck in your real estate career.