In my state the Commissioner of Banks has explicitly identified the conditions of when Non Owner Occupied funding would require a registered NMLS licensee.

If you don't, you either have to have a person with the proper license pull the permits for a specific job or have a General Contractor licensee pull the permits for remodeling work.

We are the licensees for [REMOVED], a nationally branded marketing company.

NationwidepiEnjoy reading your posts but the statement you made that it is not legal for an agent to receive funds outside of closing is 100% wrong if your talking about fees for service.Not sure if we are on the same page and I am quite sure I am not 100% wrong.What I am saying is that a licensed RE sales agent can not pay or receive commissions, fees, or whatever you want to call them directky to or from another agent or person and here is why:The broker in which the licensee hangs his/her license needs to be paid and paying outside of closings without the knowledge of the broker circumvents his/her fees/commissions.

RE sales licensees are held to a high "professional" standard and if anything goes wrong, you can be blamed as you are under a ton of disclosure laws and regulations.

It shall be unlawful for any person or entity, directly or indirectly, to engage in or conduct, or to advertise or hold himself out as engaging in or conducting the business, or acting in the capacity, of a real estate broker or real estate salesperson within the state without first obtaining a license as such broker or salesperson, and be classed as an active licensee, as provided in this Chapter, unless he is exempted from obtaining a license as specified herein.C.

As per Federal Law, I can't pay you anything for helping me find a buyer UNLESS you are a real estate licensee.

I didn't look up your state requirements to disclose, but I'll bet it says something like "A licensee shall disclose upon the first meeting with any person they engage to conduct any real estate business requiring a license" I doubt it will say "unless you're a loan officer"....butIt depends on the kind of business you are going to conduct, if you're buying a property, I'd say, because I'm a loan officer at XYZ bank, I'm required to hold a real estate license" The purpose of disclosure is to put the general public on notice that you have a degree of expertise in real estate and are considered to have an advantage over those who do not.

J Scott: I use a discount broker when selling because they are cheap and do work I don't want to do, but I don't have to be represented.The ca dre commissioner was asked if there was a law or regulation requiring a licensee to disclose license status when acting strictly as a principal...he couldn't find anything.

I found this digging....Scott and Will have good info, IMO, but I have never seen such a stipulation at law since eah agent is a licensee and held to professional standards, there would not be a conflict of interest, but there is in dealing with other interests to a transaction.