A question for other realtors. - Posted by Tony Cox (Mesa, AZ)

Posted by Rob FL on June 16, 1999 at 16:02:03:

I have been a broker for a few years. I do it part-time, as I still have a full-time job at a title company. If you are employed by a broker, you may have a conflict of interest if you are investing, unless your broker gets part of the commissions on your deals. This is part of why I am a broker, independence to act as I choose.

If possible, I would look at each prospect you deal with first from an investor’s point of view, and secondly from a realtor’s point of view. Meaning, if it is a good deal, you try and snatch it up before anyone else.

The whole thing about finder’s fees has been beaten to death in the past. You don’t really need to be concerned with RESPA as you do with your state licensing laws. That is what prohibits “finders fees”. Look the law up for yourself www.findlaw.com. Maybe some others can shed some light for you. I don’t know of any way around it myself other than breaking the law. Most state laws don’t care whether you are licensed or not in regards to “finders fees.”

A question for other realtors. - Posted by Tony Cox (Mesa, AZ)

Posted by Tony Cox (Mesa, AZ) on June 16, 1999 at 14:11:31:

I’m a Realtor and just getting started in investing. I’m surprised how many other realtors don’t have a clue about the creative stuff many of my new inverstor friends are doing. It’s all new to me. Anyway, my question is, how do you balance prospecting as a realtor with prospecting as an investor?

Also, many of the investors I know offer a finders fee anywhere between $250-$1000 for any one who brings them a deal that closes. RESPA law prohibits me from doing this since I am an active realtor, is there any legal way around this?