On this episode of the Real Estate Fight Club Podcast, Jenn and Monica are going to duke it out over this question, should agents be required to own real property? Should they be required to own a home or a condo, or land? Tune in to hear all of the thoughts!
Episode Highlights:
- Monica says that in some parts of the country, owning property is more complicated than in other regions. If you are a real estate agent in New York City, you are likely renting something.
- Look at it like an analogy; if you are a vegetarian, does that mean you shouldn’t be able to own a subway franchise because you are not eating the meat that you serve?
- Jenn inquires, if we are doing investment property and hiring somebody to represent us, does it make sense that we would want to hire an agent that knows investment property because they have some?
- If you are an agent doing a lot of deals, it is easy to forget that a purchase is a highly emotional process. People move because of emotional things, says Jenn.
- Monica says that it is an exciting thing for real estate agents to think about that if you own property, how does that help you be a better agent? If you don’t own property, why is that? Do you not understand or trust the process of investing in property?
- Andrew, the tiebreaker for this episode, say if you have five-plus years in real estate and are successful, you should be a home owner unless you are maybe in New York or LA or something like that where you can’t buy a house for under $5 million.
- Andrew and Jenn discuss different circumstances in which real estate agents may rent or own.
3 Key Points:
- Monica says that you don’t need to own property to understand the process of owning property.
- People think there is only one way to own property, and that is either to be a landlord or flip houses, but that is not true. There are a lot of ways to invest in real estate, says Jenn.
- Tiebreaker, Andrew Hersey, joins the conversation to answer whether real estate agents should be required to own property as part of their licensing.
Resources Mentioned:
Coach John Kitchens - Go To www.CoachCode.com to get on the list!
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Cyberbacker - https://cyberbacker.com/ (Get a FREE gift to help you with Facebook simply by saying you heard it on Real Estate Fight Club)
