Posted by Natalie-VA on December 13, 2005 at 07:51:03:
Interesting…I’m sure we have similar verbiage in our act here in VA. Maybe the employees get around it here by not collecting a “commission”, but instead collecting their salary. The same goes for non-licensed employees who perform property management at apartment complexes, etc. Who knows!
–Natalie
Using Real Estate Agents - Posted by Ronnie
Posted by Ronnie on December 08, 2005 at 13:41:21:
I am starting a business in which I will need to hire a licensed agent for a couple of reasons. My question is does my corporation need to have a license to employ agents? My service is basically a contact network and I would never claim to be an agent, but I need an agent in order to service my clients more effectively. I am not sure if I as the owner need to be licensed in order to employ agents. Anyone know the answer?
P.S. I am avoiding getting licensed because I want a bit of legal protection against buying on a discount. Plus I am trying to keep my time free as much as possible by having others do the leg work for me.
Re: Using Real Estate Agents - Posted by Natalie-VA
Posted by Natalie-VA on December 12, 2005 at 13:32:02:
Ronnie,
You might want to check your state laws. In my state, an agent has to hang their license with a broker, so you can’t have an agent without a broker.
You can get around this by hiring a broker instead of an agent.
–Natalie
Re: Using Real Estate Agents - Posted by Innovator
Posted by Innovator on December 10, 2005 at 08:20:02:
Why not just work with the RE agent that has the listing if buying and list with an agent if you’re selling. Most good agents earn their commissions and are worth working with!
Re: Using Real Estate Agents - Posted by cathleen (tx)
Posted by cathleen (tx) on December 08, 2005 at 15:50:35:
I am 99.9% sure that in order to sell any home other than your own you need to have a license…if you gave an employee a key to one of your homes and asked them to show it to a potential buyer, that may be a problem. I worked for a guy who would keep a key at the office and, as his secretary ,I would collect vital info about the potential buyer/renter ie, collect info usually found on a rental/purchase agreement then, give them a key to let themselves in- the secretary could hold the drivers license until the key is returned.Any questions about the property can only be answered by the owner. Is this the kind of info you were looking for?
Re: Using Real Estate Agents - Posted by cathleen (tx)
Posted by cathleen (tx) on December 08, 2005 at 15:49:56:
I am 99.9% sure that in order to sell any home other than your own you need to have a license…if you gave an employee a key to one of your homes and asked them to show it to a potential buyer, that may be a problem. I worked for a guy who would keep a key at the office and, as his secretary ,I would collect vital info about the potential buyer/renter ie, collect info usually found on a rental/purchase agreement then, give them a key to let themselves in- the secretary could hold the drivers license until the key is returned.Any questions about the property can only be answered by the owner. Is this the kind of info you were looking for?
Re: Using Real Estate Agents - Posted by Natalie-VA
Posted by Natalie-VA on December 12, 2005 at 13:30:24:
Cathleen,
In most places, a license is not be required if you are an employee of the owner. This is how bank employees are able to sell REO properties for their employers.
–Natalie
Texas has its own rules then - Posted by cathleen
Posted by cathleen on December 12, 2005 at 16:41:56:
the Texas licensing act states- anyone who for another person and for a fee, commission, or other valuable consideration, or with the intention or in the expectation or on the promise of receiving or collection a fee, commission or other valuable consideration from another person engages in a broad variety of real estate activities must have a license.