If you’re a real estate agent, you’re already helping lots of people buy and sell properties, you’re making lots of deals all the time and so on. But what can you do when it’s your turn to purchase real estate? Are you allowed to represent yourself as a real estate agent? Or do you need to hire another real estate agent in such a situation? Let’s find out!
You are allowed to represent yourself
The short answer is that yes, you are allowed to represent yourself and you don’t need to hire another real estate agent. Of course, it all depends on a variety of factors, with the location being a prime example. If you do want to represent yourself, you also need to be affiliated with a brokerage. That means connecting with a local real estate company and getting your license there. They might end up charging you a commission since you are affiliated with them, something to keep in mind here.
Why would you represent yourself as a real estate agent?
The thing to keep in mind is that if you represent yourself, you don’t have to split money with another agent. You get to keep thousands of dollars in your pocket, which is great. However, you will need to split the commission with your brokerage, since you can’t represent yourself otherwise. Still, you end up saving quite a bit, even if you split some of the money with the real estate company.
Then there’s also the fact that you get to cut the middleman. Doing that is actually a great idea, and it will help you quite a lot. You also have control over the transaction. Negotiations, appointments and the paperwork process are all things you can oversee and work on, which is very helpful. It can be tricky to do that if you already have to represent clients at the same time, and that’s why it will take a little bit of getting used to.
Does this always work?
Representing yourself might not always be the right option. If you lack experience, you do want to work with a more experienced professional and use them as a mentor. On top of that, you might also benefit from the knowledge that someone has from working on that market. Of course, if you have more experience, then representing yourself is a great idea. There are way less risks, and you get to save money in the process too.
Representing yourself as a real estate agent is a great idea and it can actively bring you some amazing results. Of course there are risks whenever you do something like this, but if you have plenty of experience and also focus specifically on this transaction, there’s little room for error. It’s ok to represent yourself, and it comes with benefits, even if there are a few challenges that can arise. It’s a good idea to weigh in on the pros and cons, then you will find it easier to narrow everything down and ensure it all works as expected!