Posted by Stacy (AZ) on September 20, 2000 at 13:23:00:
JDH, I’d be careful if I were you. There are penalties for practicing agency without a license in most (if not all) states. I’d suggest researching this, or getting an opinion from an attorney. I’ve included the AZ statute below that defines the acts that constitute RE broker or salesperson activity. The key phrases are “for others” and “for compensation”. If you are not a principal in the transaction (sign a purchase and sales contract or option), then how can you prove you are a principal? Anyway, I’m not a lawyer, and I don’t know your state’s statutes, but if I were you I’d find out.
Good luck…sounds like you have found a niche.
-------From AZ revised statutes-----------------
- “Real estate broker” means a person, other than a salesperson, who, for another and for compensation:
(a) Sells, exchanges, purchases, rents or leases real estate or time-share intervals.
(b) Offers to sell, exchange, purchase, rent or lease real estate or time-share intervals.
(c) Negotiates or offers, attempts or agrees to negotiate the sale, exchange, purchase, rental or leasing of real estate or time-share intervals.
(d) Lists or offers, attempts or agrees to list real estate or time-share intervals for sale, lease or exchange.
(e) Auctions or offers, attempts or agrees to auction real estate or time-share intervals.
(f) Buys, sells, offers to buy or sell or otherwise deals in options on real estate or time-share intervals or improvements to real estate or time-share intervals.
(g) Collects or offers, attempts or agrees to collect rent for the use of real estate or time-share intervals.
(h) Advertises or holds himself out as being engaged in the business of buying, selling, exchanging, renting or leasing real estate or time-share intervals or counseling or advising regarding real estate or time-share intervals.
(i) Assists or directs in the procuring of prospects, calculated to result in the sale, exchange, leasing or rental of real estate or time-share intervals.
(j) Assists or directs in the negotiation of any transaction calculated or intended to result in the sale, exchange, leasing or rental of real estate or time-share intervals.
(k) Incident to the sale of real estate negotiates or offers, attempts or agrees to negotiate a loan secured or to be secured by a mortgage or other encumbrance upon or transfer of real estate or time-share intervals subject to the provisions of section 32- 2155, subsection C. The provisions of this subdivision do not apply to mortgage brokers as defined in and subject to the provisions of title 6, chapter 9, article 1.
(l) Engages in the business of assisting or offering to assist another in filing an application for the purchase or lease of, or in locating or entering upon, lands owned by the state or federal government.
(m) Claims, demands, charges, receives, collects or contracts for the collection of an advance fee in connection with any employment enumerated in this section, including employment undertaken to promote the sale or lease of real property by advance fee listing, by furnishing rental information to a prospective tenant for a fee paid by the prospective tenant, by advertisement or by any other offering to sell, lease, exchange or rent real property or selling kits connected therewith. This shall not include the activities of any communications media of general circulation or coverage not primarily engaged in the advertisement of real estate or any communications media activities that are specifically exempt from applicability of this article under section 32-2121.
(n) Engages in any of the acts listed in subdivisions (a) through (m) of this paragraph for the sale or lease of other than real property if a real property sale or lease is a part of, contingent on or ancillary to the transaction.
(o) Performs any of the acts listed in subdivisions (a) through (m) of this paragraph as an employee of, or in behalf of, the owner of real estate, or interest in the real estate, or improvements affixed on the real estate, for compensation.
And…the definition of compensation…
- “Compensation” means any fee, commission, salary, money or other valuable consideration for services rendered or to be rendered as well as the promise of consideration whether contingent or not.