Rental Property Investor · Long Beach, NY · Member since 2014 · 36 posts · 7 votes
If I currently had a real estate salespersons license and was looking for a primary residence am I legally allowed to present a personal offer to the seller? So I don't need to go through my broker and I understand I would not collect a commission and I would be buying from a FSBO so instead of paying real estate commissions I could potentially add to my offer. Is this legally allowed? It sounds fishy like I am going behind my brokers back but can I pick and choose which deals I want to use my license for and what deals I want to bypass my license and just present a personal offer as if I wasn't an agent and didn't hire one?
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
7y
No you can not do that. When you become licensed you subject yourself to your brokers supervision and the oversite of your states licensing board/department. All of your real estate activities, whether paid or not, fall under that supervision.
Rental Property Investor · Long Beach, NY · Member since 2014 · 36 posts · 7 votes
7y
Thank you for your response, if I currently have a real estate salespersons license under a brokerage can I use another agent to buy my property and do everything through them?
Rental Property Investor · Long Beach, NY · Member since 2014 · 36 posts · 7 votes
7y
Gotch ya, so if I hire an agent nothing will go through my current brokers office correct? Everything will go through whoever I hire just as if I didn’t have a license and hired an agent.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
7y
It depends on the independent contractor agreement you signed with your brokerage.....here, under the broker I was with, I could buy any off market deals personally with no brokerage involvement/oversight.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
7y
@Russell Brazil Well, there is certainly no FL state law prohibiting it. Different brokerages, primarily the large national ones, apparently impose tighter restrictions on their agents.