Disclaimer: What you are about to read may cause some to be upset. Yet, I need to distinguish between the two.
There is a big difference between Real Estate Agents and Real Estate Investors. The big difference is Education. I'm not saying they are good or bad, just the education is different. Agents know the market and the trends of the area. The are educated on how to market and sell a home, the facts and figures involved in the home, and where to access information for the local area in which they are going to work, along with other essential information needed to market a house or piece of property.
Real Estate Agents get educated to be licensed to sell homes and represent buyers. During the pre-licensing education, they are not taught in the real estate classes how to work:
- Short Sales
- Rehabbing
- Fix 'n' flips
- Work wholesale assignments
- Manage investment properties
- In depth mortgage financing
- Foreclosures
- Purchase Option Contracts
- Tax Strategies for maximum profit
- Legal Strategies for investing
- Using your 401k and IRA's to invest in real estate
- Buy and Hold Investing - Landlording
- Introduction to Land Development
- Lease Options and sandwich leases
- Managing Property Managers
- Master Leases
- Multi-family investing
- Investing in Tax Lien Certificates
- Probate Investing
- 'Subject to' investing
The above mentioned topics are not covered in-depth or at all in Real Estate Classes in which people are going to test for a license to be a Real Estate Agent.
Again, I am pointing out the difference in education between being taught to someone getting their license to MARKET real estate and INVEST in real estate.
This is what makes Nouveau Riche's real estate investment college so unique. NR educates you on the topics listed above and more, so you have the right knowledge when it comes to investing in various aspects of real estate.
Real Estate Agents are great to have on your team and I encourage you to utilize their knowledge!
This post came to light after comments were exchanged on my previous posts regarding Short Sales in which a Realtor was saying what we do is a scam, possibly illegal and unethical.
My rebuttal as always is:
The wealthy write the rules, when you know the rules you can play the game!
Also, I have talked with Real Estate Agents in the Chicago market who have gone through our education and agree.
There is more education in real estate beyond just testing for licensing to market property.
Here's to continued education and growth!
Tony
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