Friday, August 7, 2020

Unlicensed Real Estate Broker-Agents

Every so often, I will get a call from a "Broker-Agent" who has a client who is looking for some form of real estate product.

After discussing the situation with them about their client, I've gotten into the habit of asking these "Broker-Agents" their licensing status.

And, most will claim an affiliation with some brokerage or an attachment with someone who is licensed
(which is illegal) and they will be the "Broker-Agent" representing the Buyer in the deal.
Still Illegal!

Since these "Broker-Agents" usually are slick, and they attempt to oversell a property to a meaningful potential Buyer, the deal usually doesn't go through.

And, recently, I've run into this scenario but this time the well qualified Buyer didn't show up, but the "Broker-Agent" did with his licensed Agents in tow,

To me, I have never been that desperate to close a transaction that I would need to be involved as a licensed Broker in something like this to earn a commission.

Through my 29 years working in real estate, I would from time to time run into a Buyer who would want the Procuring Fee (or part of the Procuring Fee).  Also Illegal!

But, I'd rather lose that transaction than be beholden to them because once you do it, you then are on their hook!  I don't think it is worth it just to make money.

To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

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