[b]Does anyone know what rules I have to follow (if any) being a licensed Realtor in California that wants to bird-dog and ultimately invest? Must I disclose the fact that I am licensed to potential sellers, investors, etc? Also, since I have access to the MLS, I come across a lot of expired listings. Can these be used as a marketing tool to bring sellers to investors?
Thanks for your input.[/b]
I’m a real estate broker in PA. Here a licensee must disclose their licensed status to everybody in a real estate deal. Agents typically use expired listings to either get the owner to list with them or sell it to one of their buyers.
As for the CA laws & regs, go to the CA Dept of Real Estate website–they probably have the law and regs posted right there. Or ask your employing broker.
That is a legal question that you should ask your attorney…
From our point of view the answer to your question is NO you would ONLY need to mention that you are a agent wille on the clock for your broker meaning wille you are in the brokers office and receive a phone call, e-mail etc. for you to sell a house for a customer under your brokers name Re/Max etc. and that is it.
NEVER ask that question to fellow agent or a broker because they will give you a BS answer for the simple fact that they personaly don’t want you to do what you have in mind. Every broker in the USA does it so why should you not be able to?
Who do you think gets all the best deals as far as HUD, REO’s etc. ? If you guessed the real estate brokers you guessed it right and for personal use.
We took a real estate agent under our “wing” with the same goal as you and guess what, he is making 10 times more money listening to our advice and personaly investing in real estate than the advice from his broker and selling houses just from the MLS.
When his broker found out that we took the agent under our wing he got all pissed off and tried giving the agent a hard time untill we stepped in and told the broker to lay off the agent or we would put him out of business.
This is a cut and dry biz “first come first serve” bottom line.
Do your own thing and use your skills as a agent to work in your favor investing in real estate.
[b][/b]Thank you so much for your input and suggestions. I will check with the California DRE website as well. I appreciate the support from everyone on this site!
8)
FRES1,
You are totally incorrect concerning disclosure requirements.
The duty to disclose is required by CA law and does not differentiate between being on and off “the clock”. See for yourself at
under Disclosures in Real Property Transactions, Section IIB
It’s the law. It’s not anyone’s “BS.”
A little on the defensive side our we?
How many times have you done things by the book in order to capitalize on your own personal real estate portfolio? And DON’T lie?
And yes it is BS because YOU do it…
I guess we may just take another agent under our “wing” in your neiborhood. What do you think?
Not defensive. Just surprised that someone would state their opinion as fact without checking the facts first.
I do things “by the book” not to capitalize on my own personal real estate portfolio, but because that’s what my own personal sense of ethics & integrity and the law require.
There you go again, making a statement that’s totally incorrect.
Actually, I’m not an agent. I’m a broker. And I’m not interested in taking an agent under my wing.