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Has anyone become a realtor to just sell their own house?

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siddharta

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I am thinking of getting a realtor licence as I am planning to sell my house this year. I have heard that it only takes about 40 hrs to prepare for the exam. It seems definitely worth it if you own a house worth more that 800K and want to sell it. Anyone else here done this?
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June 01 - Seattle
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Glenn Roberts, "GlennatLakeRE.com"

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I did. In 1985 I had a home to sell and a construction warehouse to sell. The building market was in the tank and interest rates were (around 18%) sky high. My father-in-law had a property to sell and a lot he would give me to sell if I could. I was so ready to switch out of construction and on to something else. So I got a license.
None of the above properties ever became sales of mine. My wife left, and the house went to foreclosure. I gave the construction warehouse to a lumber yard for non payment of debt. About 9 months later I made my first sale in real esate...a $7,500 dollar lot. By the time my broker took his share and what he thought I owed for advertising or something, I got $340.00. I was hooked, man.
So it's about 25 years later and I've moved from there to here. If you want a big life change, get a real estate license. I wish you all the luck in the world.
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June 01
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Kevin Lisota

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If you want to sell your home and feel comfortable doing the work yourself, you won't need a real estate license. You can use one of the FSBO services that lists your property on the MLS for a fee, but requires you to represent yourself in negotiations. That is a far easier path for a seller.
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July 20
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Barbara McMahon

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I am not really sure why you would want to go to the trouble of doing that!  There is quite a learning curve to become an agent in addition to learning the proper execution of contracts and documents. Additionally, it is very exensive, given dues, broker fees, etc. You would actually be giving away your own money - most full service brokers charge a 50% commission split - so say you have a 400,000 home. Your commisssion would be approx. 3%, split with your broker.  Then you need to pay both sides of social security, errors and ommissions insurance, business and occupation tax, etc.  Hire a good professional!!
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July 15
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Jim Wornast, "_Jim_"

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Yes, I've know 2 people whao have done this.
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June 06
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Connie Wildasinn, "pwildcon"

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your actually in a better position not to have a license... with a license you now have professional knowledge... get ready... all the chatter you hear on zillow happens.. buyers sue cause their happy, they sue cause they are sad, they sue because the house is bigger than noted in the MLS, they sue because it is smaller...

if you are getting a license to sell your own house... stop being cheap, hire an agent or go FSBO and move on .. make your money at where you make your money...

Good luck!

ps I wish i was as easy as pop a sign down and collect a check.. get ready.... you'll be in for a ride!
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June 06
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siddharta

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Thank you for your answers.I think I am going to get the licence. I thought about it a bit more and this just wont be useful for me but even for my other family members who choose to buy or sell their home in the future.
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June 03
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Jim Reppond, "Jim Reppond"

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I actually did this myself in 1978. I had 55 acres and wanted to subdivide it and market it myself. I found I loved real estate and it has been a passion of mine ever since. Here it is 2009 and guess what I'm doing? Helping people buy and sell real estate.

So just be warned. You may fall in love with it.

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June 02
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nvchaz

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"Kids are the best sellers they just hold up the cookies, look you in the eye, say please,  and wait."

Classic!
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June 01
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akoi

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Michael, you are right on, kids are the best sales people! When I see girl scouts selling cookies...if I make eye contact....I just bought a case of mystic mints!
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June 01
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Michael Russell, "real estate mike"

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Wow Bob wants no competition, how sad. Your limited service is about worth ..never mind. Go for it, sid. You will be adding to the enormous list of people who want your money. A class on marketing would be cheaper and You could learn to sell almost anything. Kids are the best sellers they just hold up the cookies, look you in the eye, say please,  and wait.  Great answer Murph It's long term about others.  
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June 01
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akoi

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I did too, but not to sell....to buy. I had worse Realtor on the planet, she told me nothing about a purchase contract, or where my $10,000 deposit was going. I was mislead about the procedure....I walked away and studied for my license, did my own deal a year later purchase a really great home.

Right now it's not a good idea to do what I did. bob2sell is right and so is Dennis
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June 01
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Brent Lumley, "LumleyTeam"

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No not worth it. If your just trying to save a little money go find a great agent that is a excellent negotiator. That agent will save you more with there negotating skills than the 3% you want to save.

Brent
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June 01
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Bob Georgiou, "Bob2Sell"

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I would add if you want to sell your home yourself and want access to the MLS there are discount brokerages that can assist for far less cost than the cost of the license and your errors and omissions insurance. 

Plus you risk your homes value (possible declines) in the time it will take to get the license.

Dont waste your time with a license.
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June 01
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Denis Murphy, "Dmurphy11"

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Why would you do that?? To save on a commission? You know you don't get to keep the whole commision. You usually only get 50% to start. You would be better off selling on your own, if you are doing it to save on a commission... Plus your time is worth money. If you own an 800k home then you probably make around 3-400 an hour multiply that by 40 hours(75 in NY), class fees, licensing fees, marketing fees, open house hours, showing home hours and a ton more hours doing other things that know one realizes. My advice is work with a Realtor and if that is not what you want to do, then sell it on your own. To be brutally honest becoming a realtor just to sell your own home could be the worst idea I have ever heard. Become a Realtor to help people. Good luck
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June 01
 

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