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Author Topic: Is flipping legal? (More)  (Read 7271 times)

Offline joefox

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Is flipping legal? (More)
« on: April 24, 2003, 07:45:11 am »
According to: "http://www.texasrealtoronline.com/issues/0102/legal/0102legal.html"

Q   May an unlicensed person make calls to determine whether a person is interested in buying or selling property or has property they wish to sell, and then make an appointment for a licensed agent to talk to the prospect?

A   No. Often referred to as telemarketing, any such activities conducted in Texas must be conducted by a licensed real estate broker or salesperson. This question was the subject of an Attorney General John Hill opinion (H-1271) that declared that a license was required for this activity. The definitions of a real estate broker in Section 2 of the Real Estate License Act and TREC Rule 535.1(c) make it clear that all solicitation work must be conducted by licensees.

Does this mean that what flippers do is illegal, or is it a scare tactic by the realtors who might be impacted if at all by flippers?

Thanks,

Joe-Newbie

Offline agkatz

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Two completely separate issues...
« Reply #1 on: April 24, 2003, 08:51:07 am »
I don't understand how you could tie in the above paragraph to flipping?  It talks about Realtors using phone solicitors.
"... Just by placing hundreds of tiny, classified ads from my little one-bedroom apartment," Don Lapre.

Offline joefox

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Thanks for the clarification
« Reply #2 on: April 24, 2003, 09:25:21 am »
Rereading the Q&A with your perspective, I see where you're coming from.  Thanks for clearing that up!!!

 




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