I manage a group of private investors in real estate. Should I get a RE License or too much restriction..?

Deal Score0

I manage a group of investors that invest in many different types of venture..we are looking at RE and I am not sure if I should get my RE license. Many says that there are too much restrictions and find yourself not in compliance..I NEED some ANSWERS Quick…Also..can I do mortgage loan without an RE license?

3 Comments
  1. Reply
    Landlord
    February 19, 2011 at 6:03 pm

    You can get a loan. You just can’t buy or sell houses.

  2. Reply
    PersonalFreedom
    February 19, 2011 at 6:14 pm

    You may need to clarify your question.

    In short –
    I RE license permits you to represent others during a buy & sell. It also allows you to receive a commission for the transaction.

    If you are one of the investors, or an employee, no license required. You may want to use an agent though.

    My opinion: If you are a partial owner of the RE or an employee of the investors, do not get the license. If you are trying to get a “finders fee” (eg commission) you should be licensed.

    Mortgage loans are unrelated to a RE license, and are regulated seperately. again, if you are not an owner on the transaction, you probably need a license.

  3. Reply
    R.E. Advice
    February 19, 2011 at 6:24 pm

    If you plan on being compensated by helping others buy or sell real estate, you MUST have a real estate license. If you’re an investor, then you don’t. Be careful as you do not want to be caught practicing real estate without a license.

    Even if you are formally getting compensated by your own investors, you’d be breaking the law without a state issued real estate license (it doesn’t matter if compensation comes from buyer or seller).

    Beyond all that, there’s really not all that many restrictions. As long as all parties acknowledge in writing that you’re a licensee representing your investors, you’ll be fine. The restrictions are basically making sure you deal fairly with all parties, protect your clients interest, behave honestly, and abide by the REALTOR code of ethics (a good idea anyway)

    Leave a reply

    Register New Account
    Reset Password