Re: Not more than 5 RE sales - Posted by jasonrei
Posted by jasonrei on February 05, 2004 at 10:23:18:
Good thought.
Terry, I’m in Houston, too. Are you the Terry that hooked up with Eddie G?
You’re all wet, Sam - Posted by DaveD (WI)
Posted by DaveD (WI) on February 04, 2004 at 16:31:27:
Sam, it says right in the second page he acted as a finder for a fee. He had no ownership interest. By definition, that is brokerage, and you need to be licensed. That ain’t what we are doing!
If you buy anything (including real estate) as a principal, you have every right to sell, assign or give away that same interest to anyone else as long as we continue to live in the USA where we have liberty and free enterprise. You are confusing brokerage with your own God-given right to pursue your own enterprise.
OK, you may need special licensing to sell booze, cigarettes and a hundred other things. But apricots, bicycles, computers, … and zippers can pretty much be bought and sold as they have been for centuries. Sheesh!
Just to think about before you quit your job!!! - Posted by Samn
Posted by Samn on February 04, 2004 at 15:28:24:
I respect you all but you have to understand I am not asking questions just for myself. I am trying to make things clear for everyone for example this is a good point for someone who is trying to quit the day job for full time REI thinking that he can do 20 flips in a year.
Re: You’re all wet, Sam - Posted by Sean
Posted by Sean on February 05, 2004 at 07:51:40:
I agree, I just don’t see how any ruling like this could stand under Federal court challenge. I am not a lawyer, but I fail to see how the government can FORCE someone to be required to be licenced, or to be required to use a broker, to sell property they OWN personally.
I just don’t see how that could survive a federal court appeal. I assume the law was written with the intent to keep people from “acting as a broker” IE taking title for a split second in order to get a commission, and work around the brokering laws. However I just can’t see this ever standing up saying that an owner of 6 properties can’t sell them all in one year themselves without being a broker or using a broker or face penalties.
Zippers? I dunno… - Posted by B.L.Renfrow
Posted by B.L.Renfrow on February 04, 2004 at 17:13:36:
…I think here in NY you need a license to sell those…
Brian (NY)