I’ve been told that licensed RE agents who also invest privately can’t charge assignment/option fees, nor can they market the property privately. My view is that if I’ve disclosed that I’m licensed, made it clear I’m not representing the seller or buyer, and have made an earnest money deposit/option payment, then I have an equitable interest and can market and accept payment for my interest in the property. The fact I have a license doesn’t prevent me from using creative investing strategies privately; I’m not acting as anyone’s agent nor am I getting a sales commission.
I’d appreciate your opinions.
Hi,
I think as long as you make full disclosure in writing and would request that your seller and your end buyer sign your disclosure statement just so someone does not come back and say "I didn't know" I think you'll be fine!
But I would talk with your broker on the wording of the disclosure and any legally required wording!
GR
Your assumptions are correct. Although the rules will vary depending upon your state, as long as you have disclosed that fact that you are operating as a principal in the transaction and that you are not representing that seller as a Real estate agent, you should be good to go.
You should definitely run it past your broker just to get their blessing, but as long as you disclose the fact that you are a licensed agent, you will be good to go.