Disclaimer: I know, I know, talk to my local real estate attorney. I hereby release any person or entity from damages caused directly or indirectly from the suggestion or advice given on this topic. The benefits out weigh the so called liabilites. :deal
Here is the spill…
I don’t have a Real Estate license and therefore am not a Realtor. I specifically don’t want to be by my own accord. Mostly due to the disclosures I must comply with and continuing education costs. I’m already a licensed p&c insurance agent, a loan officer, and a real estate investor. So that is enough for me personally. I understand the benefits of getting a license however I do not think I ever will.
With that being said I must tell you that from time to time in the real estate community there is this thought that because we as real estate investors are very similar to agents, we are somehow breaking the law. Furthermore, that we shall just give in and get a licensed. I want to address the first issue here.
A good example is that just the other morning I was having a telephone conversation with my good friend and commercial real estate agent “Jebidiah”(name has been changed to protect the innocent). He stated a well known residential agent believes that what we do as investors is illegal. Key word “is” not “should be”.
Now I asked Jebidiah how so and he went on to explain that we cannot attempt to sell a property using direct mail, internet or the newspaper without having the property under contract. And most certianly shall not post a picture of the property along with a sales price and our contact info on our investment websites.
I do not believe this one bit and protest that if this were true then there are some individuals and companies that would be in violation of this such as:
1 Lead based websites that profit from selling pre-foreclosure leads to investors.
and
2 A person who may post a bulletin at work, flyer online, or newspaper ad to help their family member sell there property and pervent a foreclosure.
Lastly, we in the real estate field should welcome any addition to our network of associates. Loan officers, contracters, private lenders, conventional lenders, attorneys, cpa’s, appraisers, title escrow officers, and especially realtors. I just hope we are welcomed in the same way. We help keep the transactions going just as anyone else.
I’m am curious if my fellow investors have experience any of this prejuduce and what steps they took to justify who we are and what we do.