Posted by John Merchant on March 21, 2006 at 11:25:18:
One issue strikes me immediately…if your involvement in this transaction is that of an Agent, you’ll need a RE license to show the proerty, do P&S Agreement, be compensated.
However if you’re a principal as an owner of the RE, no license required.
You should determine your status now so as to avoid entanglements with the state RE commission later on.
Oh, I know lots of REIs play this game, and refer to prospects as their "clients’ etc., but trust me…they’e just asking for trouble from their RECs. They want the benefits of playing RE Agent, with none of the responsibilities, drawbacks or legal limits.