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Updated over 8 years ago on . Most recent reply
Agent License with a Broker who denies to handle your flip home
Hi All,
Currently, I am studying towards receiving my real estate agent license for the purpose of flipping homes. Once I will get the license, I will start looking for a broker.
Based on the information I am reading on RE agent classes, your broker is the main person that will be listed in transactions and ultimately responsible from any wrong doing related to any Agent's work.
I have few questions regarding possible actions Brokers might take:
1. After I found a home myself, can the broker interfere with the process and say "He doesn't want to handle listing this house ?" I have heard about "Sub 2" deals where
Brokers may not want to be involved ?
2. In the listing forms, would the Broker's name be listed as the seller (per RE classes I am taking, that is the case) and hence the responsibility of the broker in the transaction ?
I will be working on renovating the house and based on the condition of the house or
what not, similar to 1) above, can the broker say "I don't want this house to be listed
under my Brokerage's name as I don't think this is a house I want to sell (for what ever reason) ?
3. What is the best deal to be cut with a broker ? Commission based per transaction or
Flat fee per year ? Do you have any prior working relationships with "$" that you can
share ?
Thank you!
This is my first post at BiggerPockets. Hope I make sense.
Michael