Is it legal to negotiate without a license if...

[Jim Lou]

I have a financial interest in a property?

Here's the scenario. I found a fsbo property for my buddy and he agreed to give me a 10% stake in the property if I negotiated a good price for him. Now the seller, since the deal didn't work out, is accusing me of practicing without a license. Is what I did legal? Thanks in advance

[Bill Gulley]

Always more details after the first post, LOL.

Yes, you were acting as a buyer's agent.

Then you asked the seller for a commission, you were attempting brokering.

You were initially acting for your buddy, compensation was part ownership. You should have been representing his best interests, then you got into a transaction or dual agency asking the seller for money on top of that.

Tell the seller you were buying it with your buddy, just trying to get a better deal. They might drop it, then again they may not.

Just another reason I say learn real estate before trying to deal in real estate! :)