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Updated over 6 years ago on . Most recent reply

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Broker responsibility when buying investment home for self?

Susanne Stauffer
Posted

I am a licensed real estate broker in WA and starting to look for a rental for myself - unlisted properties that someone might want/have to unload. I know I have to disclose that I am a broker.  To get a 'deal' it has to be someone who does not want to list the property and wants it gone now - but I know the seller would net more if they sold it on the open market.  Any advice from other brokers on this?  Not my intent to deceive anyone - they have already told me they do not want to list.  Do you have them sign an acknowledgement that there is an option of listing on the open market? 

Probably a question for my broker but wanted to see what other active brokers who are buying properties for themselves are doing to address this potential liability? 

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Gualter Amarelo
  • Investor
  • Fall River, MA
300
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Gualter Amarelo
  • Investor
  • Fall River, MA
Replied
@Susanne Stauffer hello! Great question! I am a licensed agent and I purchase off market as often as possible. My broker @t@Tom Cafarella has built his investment business on the premise of off market deals. There are many cases where the client does not want to list but would sell to their agent. In Massachusetts as long as we disclose that we are licensed real estate professionals we are in the clear. I hope this helps. Cheers to your success!

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