Going for it, real estate and mortgages!

[COLOANHound]

Decided to go for it and get my real estate license. I wanted to hear some feedback from others about how they feel about this and how to jump start a transition like this. I think this ultimately benefits my clients, seeing how I'm in it for the long haul and not the quick buck. I will be able to list their homes for far less, just by the fact that they will utilize my lending services as well.

Game on!

[rgloans]

if I was an agent I wont refer any leads to you for financing I'll let you that.

[COLOANHound]

Bro, that's the whole point. I don't want their BS anyway. You gotta hit the streets and wine and dine those agents, for what, a bunch of promises with none met. No thanks. How about I do the marketing myself and knock the socks off all these other sorry as_es.

If you were an agent, I wouldn't send any leads to you. LOL

[Secret!]

Most that I know of, have failed at trying to do both ....

[COLOANHound]

Thanks, I can always count on you for such a response. It's funny how reading something like can make me feel stronger about the subject and more driven to succeed.

[Erik]

One thing that probably doesn't apply to you right now, Coloanhound, is that in the future when licensing becomes required in Colorado (IIRC it is not required now) then you may only be able to do one arm of the transaction.

A few years ago when Utah began licensing loan officers and brokers, the rule came out that hybrid LOs/RE agents, even if licensed as both, could only do either the agent function or the LO function in the real estate transaction.

Just a heads up, in case your state moves to mortgage license requirements any time soon and decides to do the same thing.

[Secret!]

"COLOANHound - Thanks, I can always count on you for such a response. It's funny how reading something like can make me feel stronger about the subject and more driven to succeed." that's wonderful, considering I'm giving you insight into several thousands of employees, students and alumni ... you could very well be the example others missed.

[jasonm]

Do both. I have my license and have been able to help friends, relatives and referrals. Why not get paid and help protect the people you care about with having the knowledge of both sides. I probably made an extra $20k last year doing this... do the math 0 or $20k. Good luck.

[lenderama]

COLOANhound, have you heard those radio ads here in Denver for the company that is listing homes on the MLS for free, and packaging "mortgage services" into the deal? I can't remember the web site. It's an interesting business model. IMO, too much headaches for me. But everyone is a little different. Good Luck!

[Erik]

MLS for free? I assume that means only 3% for the buyer's agent, but nothing for the listing agent... is that right?