Is it legal? - Posted by TJ

Posted by John Merchant on August 25, 2003 at 11:08:50:

This depends on your state’s laws regarding who can legally get paid for “connecting” a buyer and seller.

in the state of WA, for example, a licensed RE Broker or Agent CAN legally do whatever he/she wants with his commission money after he’s paid. If he/she wants to drink it away, throw it down a gutter, or split it with a “birddog” no problem.

In other states this might not be legal, and anybody getting paid a commission, had better be a RE licensee.

One normally used way to get around this problem, is for B to have contract to buy from S, than assign that contract to B2, for a higher price, and keep the difference. This way, both B & B2 are principals, nobody’s an agent, so no licenses are required.

Is it legal? - Posted by TJ

Posted by TJ on August 23, 2003 at 22:46:25:

I know it is not legal to connect a Buyer with a Loan for a fee if you are not a Broker or Agent.

But, is it legal to connect a Buyer with a Broker for a Fee(Fee To Be Paid By The Buyer If Broker Can Help)?

Please be sure, because I will be informing other posters on other sites.

Thank You,