can you share a real estate commision with someone who does not have a real estate license?
Posted on May 31st, 2010 in Renting & Real Estate | 4 Comments »
Info Sponge asked:
I have good marketing and networking skills and a huge passion for properties in a certain demographic. I know a real estate broker who has that demographic and is really honest and very good at the contract side, but a little shy when it comes to people. Can we work together or do I have to get my real estate license in order to create a partnership?
Superfoods
I have good marketing and networking skills and a huge passion for properties in a certain demographic. I know a real estate broker who has that demographic and is really honest and very good at the contract side, but a little shy when it comes to people. Can we work together or do I have to get my real estate license in order to create a partnership?
Superfoods
4 Responses
Campbelltown Pa Real Estate
You must get your real estate license or you are going to fun afoul of the law and so will that broker.
It isn’t that hard to obtain a license. Go for it.
Bank Foreclosed Homes For Sale
By working with that agent, they would be paid by the seller in most cases. If you want to create a partnership, only one needs a license in most states.
Paxton PA Real Estate
No. Your friend can pay you for your services out of his/her pocket but that’s it.
If you get your license, in order to form a partnership, you will have to establish a brokerage of your own, and compete with all the other real estate companies in your area. This is quite expensive and at this time, very risky.
My suggestion is that you get your license (it isn’t difficult) and just work with your friend as two realtors.
Thermage Skin Tightening
In order to legally receive a commission from a real estate transaction, you must hold a valid real estate sales or broker license.