Do I need to be licensed real estate broker to do deal in New York?

Question

I am putting together buyer and seller of a commercial real estate deal in Manhattan and am not licensed. Do I need to be licensed to get brokers fee? If so, when putting together a fee agreement are there ways around it? Thanks

Answer 1

If you are not licensed, they can not and will not pay you.

You can get a reciprocal real estate salesperson’s license in NY if you meet the qualifications and have a sponsor who is licensed in NY. Look up your state for the qualifications here:

http://www.dos.state.ny.us/lcns/recipro.html

Answer 2

There are internet sites to aid you be taught the necessities, nevertheless it could be shrewd to seem within the regional paper for commercials from country wide, now not regional, truly property firms that present on-the-activity coaching, categories or even apprenticeships. An agent is "stage one" at the same time a dealer is "stage 2". Start with agent, transfer as much as dealer. It relatively is higher to partner your self with a well, secure country wide enterprise as an alternative than attempt to pass it by myself. If you're inclined to paintings rough and feature the capacity to promote, record and manage persons, you'll pass a ways. Check along with your regional group school and notice what publications are furnished, what the charges and necessities are. You'll need to take the ones publications whether or not or now not you're related to a enterprise, so that you could as good get began!

Answer 3

You should be licensed. If the seller does not want to pay you after the sale then you won't have any recourse. To protect yourself you should not proceed till the seller pays you up front comission. If the deal falls through then you would give back the money.