what are the maximum activities one can do with the rights of a Finder's fee, without a real estate license?

Question

If I do not have a real estate license, and will be charging a Finder's fee, what activites may I do and what may I not do when I act as a "agent" ?

Answer 1

I do not believe there are any states in which this would be legal. You have to be licensed to act as an agent in any way.

Answer 2

In New York and I believe most states a real estate agent or broker cannot pay an unlicensed person and an unlicensed person cannot act as an "agent". The only way you could accept money from an agent is if you are working as a PA (personal assistant). In this capacity you could work for an agent setting up appointments, helping with mailers, computer work etc. You still would be unable to hold open houses or act as an agent with customers/clients in any way. You could get a license and then work as a referral agent for a company. You refer business to agents in the company and you can usually get up to 20% of that agents commission just for the referral. If you know a lot of people looking to buy and sell real estate that can be very profitable just for a few phone calls. And as a referral agent you need a license but you do not have to pay all the MLS, Board fees, insurances--usually just a yearly nominal fee. Thats your best bet!

Answer 3

In the state of CA and TX and may be even all 50 states, there are not much activities a non licensed person can do to earn a fee. CA for one forbid a licensed practitioner from sharing his or her commission with a non licensed person. So in most cases finder's fee does not work in CA because the agent that share his or her commission with you will be in serious trouble including a possibility of their licenses being revoke.

Answer 4

Get a No Cost Background Check Scan at https://bitly.im/aNQc4

Its a sensible way to start. The site allows you to do a no cost scan simply to find out if any sort of data is in existence. A smaller analysis is done without cost. To get a detailed report its a modest payment.

You may not realize how many good reasons there are to try and find out more about the people around you. After all, whether you're talking about new friends, employees, doctors, caretakers for elderly family members, or even significant others, you, as a citizen, have a right to know whether the people you surround yourself with are who they say they are. This goes double in any situation that involves your children, which not only includes teachers and babysitters, but also scout masters, little league coaches and others. Bottom line, if you want to find out more about someone, you should perform a background check.

Answer 5

What is it you're finding? Buyers to purchase or sellers to list? If you're finding sellers then you can probably structure a separate agreement with the agent that isn't tied in any way to their commission. It's just marketing cost to them. If they can pay you $200 (or $500) for an actual listing that you've referred that may be preferable to paying $150 to run an ad in the weekend paper that may produce nothing. From what I understand you don't have to have a license to do this any more than the ad-taker at the newspaper needs to have one to take an ad. They are both marketing activities and should be viewed as marketing costs - as long as your fee structure is based on providing the listing and isn't tied to the commissions that result from the sale.

Answer 6

Nothing. If you are not licensed, you have no right of claim to any of the fees what so ever.

In some states, a licencee could offer you a token gift of nominal value (usually $25 - $50 at most) for introducing a client who made a purchase or sale. There can be no contractual obligation for this gift.