Problem advertising someone elses houses? - Posted by David G (OR)

Posted by Ed Copp on October 04, 2002 at 18:42:42:

is full. They don’t want your body they just want your money.

In my state if someone complains it will probably be an agent. They will compalin to the division of real estate. The div. will issue a cease and desist order after spending considerable time checking out what you are doing.

Then if you keep doing what you have been doing they will turn you over to one or more of the several hundred lawyers that work for the attorney general. They will investigate you some more (everybody has to work someplace). Usually by this point people change how they do things, and make the peace.

But if you continue then there will eventually be some kind of charge made, and you will have to go to court. They want your money not your body. Now if you are subpeonaed into court and you ignore them they will come and take your body away (sooner or later). This most likely will happen when you really do not need it, I have some experience in this matter.

The chances of being busted are pretty slim, but if you would just take the time to learn how to do it properly they will be none at all. Just protect yourself by being a principal, end of problem.

Problem advertising someone elses houses? - Posted by David G (OR)

Posted by David G (OR) on October 03, 2002 at 05:34:08:

I’m getting confused with the laws concerning finder’s fees.

Could I be fined/jailed for advertising another investor’s houses on my flyers which contain my houses (we’re both selling ‘Owner contract’ and neither of us are licensed)?

Could I be fined/jailed for getting a referral fee if I find a buyer for him?

David G.

Re: Problem advertising someone elses houses? - Posted by Drew

Posted by Drew on October 03, 2002 at 16:14:21:



Why would he pay a “finders” fee instead of paying you for your services… printing and distributing flyers? Get it? :wink:

If that doesn’t float your boat…

Could you sign a contract to purchase your friend’s house? Now you’re a principal advertising a house you have under contract. Then go do your advertising and if another buyer is found, your friend can cancel the contract with you for $XXX. You’re just a principal that gets paid to get lost. It wouldn’t be a finders fee, but a Contract Release Fee.

Those are my non-lawyer solutions to a problem that’s, IMHO, unlikely to materialize.

Best of luck!

Ed Copp? - Posted by JHyre in Ohio

Posted by JHyre in Ohio on October 03, 2002 at 07:09:57:

Jailed? I doubt that. Fined? Perhaps. Making $ for selling another’s property (e.g.- referral fee) results in fines if the RE Board catches on. I defer to others on the advertising issue.

John Hyre