Questions About Wholesaling as a Realtor

[Anthoni S Bereziuk Jr]

I'm an investor friendly realtor who will be getting in the game myself starting this weekend.  I'm about to launch a direct mail campaign, website, and online classifieds (feeding my website)--all focused on attracting motivated sellers.

However, I have questions about what is legal according to the real estate commission, NAR, etc. Let me just say first that, although I'm an agent, I plan on putting wholesale properties under contract in the name of my business LLC. So here are my questions:

1) When a seller calls me in response to some marketing, do I have to tell them right off the bat that I'm a licensed agent?

2) Do I have to state "owner/agent" on the purchase agreement if the I'm taking possession in my business name?

3) After I have a deal under contract and want to market it at my REIA meeting, do I have to state "owner/agent" on the flier if it's actually my LLC that has the equitable interest at that point?

4) As an agent, I'm not allowed to pay referral fees to non-licensed persons, but could my LLC pay referral fees to non-licensed persons for leads that might become a wholesale deal?

Thanks for any insight you can offer.

[Curt Davis]

These are better questions for your principal broker as you want to make sure you are compliant to your state.