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All Forum Posts by: Phillip Snerdley

Phillip Snerdley has started 1 posts and replied 2 times.

Thanks for the reply and for confirming my thoughts.  My wife is worried that offering, and negotiating a property for sale without the knowledge or consent of the other owners is fraudulent and that I could be found guilty of selling real esate without a license.  However, I told her that the law clearly says that in order to be subject to real estate licensing laws that I have to act for others...in this case, I am acting for myself.  

So I am new to real estate...I have an opportunity to purchase an interest in land from a friend whose father passed away and now they own 1/4.  I would like to sell the property, but obviously, there are other owners if I buy my friend's interest. 

If I market the property in its entirety and try to make money on the spread between what I am offering it for and what I hope to buy it from the other owners, is that a good way to go about selling this?

Also, since I am an owner, would I be subject to real estate licensing laws since I would be acting on my own behalf, not the other owners?

My state says that Real estate brokerage means a single, multiple, or continuing act of dealing in time shares or options, selling or offering for sale, buying or offering to buy, negotiating the purchase, sale, or exchange of real estate, engaging in property management, leasing or offering to lease, renting or offering for rent, or referring or offering to refer for the purpose of securing prospects, any real estate or the improvements thereon for others for a fee, compensation, or other valuable consideration

 Like I said, I am not acting for others, as I am acting for myself and I am not charging a fee to market the property for the other owners because I intend to make money on the spread.  I feel like this is an easy way to make some serious dollars without investing a lot in real estate.


Thoughts?