I am an aquisition type Real Estate Broker, who mostly buys houses and resells them after rehab. I hardly, if ever, use my real estate license in a traditional nature. I was approached by a company that needs a broker of record only, witrhout any additional work required. I was wondering if anybody knew what the acceptable rate of compansation is for this type of business relationship, and what drawbacks I may be overlooking, if I were to enter into a business relationship with this company. Any information would be helpful and appreciated. Thank you for your time.
What do you mean for record only?
As a broker, you are responsible for any actions taken under your license so you need to know what do they need your license for.
This is where negotiation skills come in… find out what do they need your license for, what benefits your license offers and have them name their offer first. You could get paid on commission basis if they make income from using your commission, or flat fee if it is for paperwork but not affecting the income.
If they do anything stupid or illegal, you are the one who loses his license and pays the fine. You are responsible for whatever they do.