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Updated almost 6 years ago on . Most recent reply

User Stats

258
Posts
141
Votes
Richie Thomas
  • Rental Property Investor
  • Sedona, AZ
141
Votes |
258
Posts

Clarification of California Real Estate Law

Richie Thomas
  • Rental Property Investor
  • Sedona, AZ
Posted

I'm an aspiring real estate investor who is taking an online California real estate license prep course. My goal in earning my license is to do things like obtain access to the MLS, lock box access so I can tour properties on my own, etc.

I'd also like to be able to generate leads for properties, probably through an online advertising strategy. My website and online ads would have messaging saying something like "We buy distressed properties. Contact us today."  There will be more info than that, of course, but hopefully you get the idea. 

However, while reading my exam prep materials today, I see the following:

    "Anyone who is not a California licensed broker may not legally solicit California residents."
    
Source-

I know the requirements to become a broker are much more strict than the requirements to become a real estate agent (more hours of class time, a 2-year full-time industry employment requirement, etc.).  Therefore, the fact that the courses uses the term "broker" here (as opposed to "agent") has me concerned.

Question- Does the above quote mean that I'll have to become a full-fledged California broker before I can place the kinds of ads I mentioned above?  Or can I do so as a simple real estate agent?

Note- I will of course be disclosing the fact that I'm an agent to any potential sellers when acting as a buyer/investor. I'm aware of the ethical and legal rules that come up when agents buy properties from sellers, and I fully intend on operating above-board and making all required disclosures.

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