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Updated over 5 years ago on . Most recent reply
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Investor becoming a real estate agent but they say I can’t FSBO
I'm about to become a real estate agent with Keller Williams. They recently told me that I wouldn't be able to sell my personally owned properties as a FSBO for liability issues to the broker I'd be working for.
My problem with that is that I purchase vacant lands from County Tax Auctions, that can’t be listed due to not being covered by title insurance.
My thought as a solution is to have the properties be owned by my LLC and conveyed by a partner when sold. Sort of like a loophole.
I’m just hoping that it would be okay to talk to potential buyers about prices and such without breaking that rule and getting in trouble.
Anyone have advice on this before I speak to the broker about it tomorrow?
Most Popular Reply
As a licensed Real Estate Salesperson (At least in TX) you are required to upon initial communication with a lead, client, or prospective buyer/seller provide a Consumer Protection Notice and Information About Brokerage Services... You will also have to disclose that you are a licensed agent on the contract. No hiding the fact that you hold a RE licenses, LLC or not.