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Updated over 7 years ago,
Do I need to be licensed agent to sell Real Estate legally?
I see a lot of high end offers out there being offered. Hotels, casinos, shopping malls, gas stations etc. And we have many buyers looking for these investment opportunities. My question is, for me to earn a commission and match up a buyer with the seller, do I myself need to be licensed RE agent in that state? My feelings are no, however I think I may require a sellers mandate to legally sell that property or market that property with the owners/sellers permission.
There are sometimes a few wholesalers involved in finding a buyer, therefore we have a master fee agreement to equally divide the commission. Normally 3% of purchase price. We also have each wholesaler sign a NCNDA for off market properties.
If I am working with a chain of marketers/promoters/wholesalers, do we need a specific document in place to market each others properties?
When we do have a buyer, do we have the buyer sign a NCNDA as well as a master fee agreement before connecting them with the seller?
Does anyone know or can share facts, (not opinion) on the legalities of selling real estate as a non-licensed agent? This would be very helpful. Thanks.