Stacie,

When you start investing in real estate, you'll soon learn the lack of love between investors and realtors. Realtors tend to look at us like we think we know everything, and we tend to look at realtors like they know nothing. Now, obviously we're not right and they're not right, but the truth lies somewhere in the middle.

There are realtors in the Birmingham area, however, that completely understand what we do. If you can find such a realtor to deal with, it makes selling a house so much easier. A realtor that understands the meaning of foreclosures, preforeclosures, rights of redemption, seasoning of titles, 80/20 split mortgages, and terms that I hear on a daily basis, makes for a more enjoyable working relationship. A realtor, however, that requires an education in order to list a previously foreclosed home, is not something we, as investors, look for.

I absolutely cannot stand the question I get most from realtors, "Where do you find all the houses you buy?". To me, this is the secret of success in this business and not something I'm going to share with anyone...Let alone someone that could be considered my potential competition.

I personally have never taken the test for my licensing. I did take Principals of Real Estate, Real Estate Appraisal, and Real Estate Law in college, but I never bothered to take the test to become a realtor.

To me disclosure has always been the key factor behind me not becoming a realtor. In my opinion, a realtor must disclose everything they know regarding a property or the possiblilty of liability comes into play. Selling a house and not being a realtor allows me to reveal only what I think is pertinent to the sale of the property.

The downside to not being a realtor, however, is by far the best sales tool available...The MLS...Having a house listed on the MLS by the right realtor that concentrates on specific areas can definately mean a faster sale.

I think right now we have 15 or 16 houses for sale. Three of those are listed with realtors. To me, these realtors are very good at what they do in a specific area. You can see by our ratio, however, that we FSBO most of our properties.

I think this is a very good topic you've started here, and I feel like you'll get a wide variety of responses. Some only sell through realtors. Some never sell through realtors. In the end, the decision to take your test is up to you.

Now, having said all the above for and against realtors, I can tell you this...I am trying to get my girlfriend to take the course and test. I figure if I have to pay someone, on occasion, 7% commission, it might as well be her.

Jay Compton