Posted by chet on January 08, 2005 at 13:55:45:
watch the state laws. If you’re not a licensed professional (Broker, RE Agent) can you legally be paid a commission? If not, having a contract wouldn’t matter as it would be an illegal contract.
Contract or NO Contract btwn friends? - Posted by Drew
Posted by Drew on January 07, 2005 at 22:27:01:
A friend offered me 5K-10K as a commission to sell his home FSBO. Due to fact he doesn’t believe homes can sell FSBO. Basically, this would be a simple task for me. Dilemna should I structure a contract between us or not? If so can i type it myself to be notarized or do i need to pay an attorney?
Commission on with a non-licensed individual… - Posted by Jason Bhattacharya
Posted by Jason Bhattacharya on January 08, 2005 at 22:06:36:
Watch out for illegal brokerage laws. These are easily violated, and can have severe penaltys. At worst, if (s)he doesn’t pay, then you have no recourse.
However, you might be able to be paid a “consulting” fee, if you do not act in the capacity of a licensed agent. I would recommend that you talk to your legal professional.
Take Care
-Jason
A.F. & A.M. 211