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Updated almost 7 years ago on . Most recent reply
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Can a RE Agent help a friend find a buyer without telling Broker
Can a real Estate agent help a friend find a buyer for their house outside of the Broker knowledge, without posting it in the MLS, what are the consequences?
Most Popular Reply
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"Thanks Wayne Brooks, what if there is compensation for finding a buyer?"
Then they risk being released from their brokerage and losing their license. Only Brokers can perform certain tasks. They hire agents to work on their behalf. An agent is working as an arm of a broker. If an agent decides they want to work alone and do their own thing, then they should get a brokers license.
It is similar to a cook at a popular restaurant buying meat, but cooking it on the company grills, using the waitresses to serve it out the back door to customer pulling up paying cash. When someone gets food poisoning who has liability?
Agents are licensed under a broker to perform tasks in accordance with that brokers policies and guidance. If an agent is not working under their broker and selling real estate by themselves, then they are not under anyones supervision and may as well be selling real estate with no license.
Jut my thoughts and your lawyer may have a different opinion.
- Mike Cumbie