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Updated over 8 years ago on . Most recent reply

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Salvatore Gambino
  • Long Island , NY
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Is it illegal for a real estate agent to consult a wholesale deal

Salvatore Gambino
  • Long Island , NY
Posted

I'm a relatively new agent, and I'm a little unclear about this. Essentially I found a for sale by owner property on Zillow  for my investor, the owner has 0 interest in listing the property through an agency, and One of My investors who has his money tied up, put me in contact with a wholesaler who offered me half of whatever he makes on the deal for finding him the property. I would be on the contract and he has a buyer lined up etc. . Is it illegal to do this if I don't disclose this to my broker? Should I talk to my boss/broker? All I did was do simple comps on the area and offered me half commission and I could really really use the money right now. Any advice would be greatly appreciated! ! 

I've considered doing the deal and offering my mentor and broker money for employing me.

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