Renters: Become a Homeowner - Read This and Learn How

The vast majority of renters who want to own a home are young people who have been unable to save up the funds needed for a down payment and closing costs. If this describes you, please continue reading. We may have a realistic solution for some of you.

  • We recommend that you carefully consider becoming a licensed referral real estate agent. If you do so, you will have the opportunity to accomplish the following:
  • Earn a significant commission on the purchase of your own home. If you change from a referral agent to a regular agent prior to closing, you will earn 80% of the commission that our office earns on the transaction. On a $500,000 sale, your commission will be $10,000 (5% x 50% to our office x 80%).
  • Compare this to the down payment for an FHA loan which is 3.5% + 1 % closing costs or $22,500 on a $500,000 purchase.
  • Before you buy your own home, you can earn referral fees that you can set aside for your down payment. See: There are no costs for you to become a referral agent other than the cost of obtaining a license.
  • By earning referral fees, the fees can be counted towards your income helping you to quality for a real estate loan.

In addition to earning the money needed to buy your own home, you will find that real estate sales is a rewarding part-time or full-time career. See: Part-time Real Estate Agents.

For additional information, please call Michael Chulak at 818-991-5200.


Become a Real Estate Agent

Reasons to Join

Prequalification vs Pre-Approval for a Mortgage Loan