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#117002 - 06/11/06 04:09 PM Active Investor with an RE license - any problems?
Luke Offline
Junior Member

Registered: 06/11/06
Posts: 3
Loc: NY
I'm an active investor and am considering getting my RE License. I would use this primarily for MLS access and listing and selling my properties.
I can see the pros but not being on the side it's tough to see any cons that may exist.
Are there any legal ramifications or other regulations that would inhibit my investing?
Thanks,
Luke
_________________________
"Why be a man of success when you can become a man of value?"

~Albert Einstien

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#117003 - 06/14/06 10:48 PM Re: Active Investor with an RE license - any problems?
OnHolidayRE Offline
Member

Registered: 05/31/06
Posts: 230
Loc: Pasco county, Florida
In FL, we have to disclose that we have a RE license in our listings, but nothing else I can think of that would hinder buying/selling property for profit. Just standard legal requirements.

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#117004 - 06/18/06 07:47 AM Re: Active Investor with an RE license - any problems?
deepsea Offline
Veteran Member

Registered: 06/14/06
Posts: 598
Loc: Atlanta GA
The conflict arises when you acquire the properties, you have to make sure that you disclose that you are an agent and that you may sell for profit. People have argued in the past that the since the agent normally represents the Seller, the Seller may think that you would tell them if you could sell it to someone else for more money. You have to make it crystal clear that you represent yourself only.

What you can't do is the traditional farming for listings and buy any house that a seller is willing to sell below market unless they sign something that makes it clear that they are selling below the market price.

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