I wanted to see if anyone out there had experience with this situation before. If an individual owns property in State A, & becomes a realtor in State B, & then wants to sell their property in State A, what needs to happen? It seems obvious the individual would disclose that they became a licensed realtor in another state, but beyond that, what thoughts or advice should be considered? If the transaction was originally going to be FSBO between 2 unlicensed people, & then the seller becomes a realtor in another state, how should that be handled? I welcome any thoughts, comments, advice. Thank you.

I think it is appropriate to disclose if the seller is licensed in another state. If the seller is not licensed in the state where the property is then they will not be able to be the listing agent, though they could still be a FSBO. I would suggest it be handled by an agent where the property is; could possibly ask for a referral back (that would leave full commission in the listing as a buyer agent incentive) or perhaps negotiate a lower commission by not asking for a referral.

That is a good question Peanut, and I just did exactly what you described. I am a licensed Realtor in the State of California and had a rental property in the State of Tennessee that I wanted to sell. I tried listing it through the agent that property managed it, but she was totaly incompitant. I flew back, bought FSBO signage & combo box for the door and answered the phone calls.

I ended up selling it to a young man who worked direclty for the bank he got his loan from, so no Agents were involved. I did "mention" that I work as a Realtor here only so he knew not to monkey around, but other than that, no formal disclosures were made. I'd say your pretty safe doing FSBO (although I wouldn't recommend it if you have no idea about the comps in the marketplace you selling in). Best of luck! :laugh:

I don't know how in TX you must disclose that you are Realtor. I would advise you to use a Realtor if you don't know the market. I have seen a lot Realtors from other states trying to sell here in TX and their properties are staying on the market forever as FSBO. If some day they sell, most of the time the deal that they think they get is very questionable. Moreover if you licensed you could receive part of your commission back from the listing agent. Behave as a Realtor, not as a FSBO. Don't put yourself into position of this people that tomorrow you will try to convince to list with you. Not a good idea.

Good luck!

if it is that easy, whwy doesn't everyone fsbo?

as agents, what do we bring to the table?

Thank you all for the insight & info. The tenant wants to buy it, but I don't know when, or even if, he ever will. I have an agent I could use but he would represent me, & the tenant-buyer would be unrepresented (unless my agent was dual agent), so I wonder if it would be appropriate to recommend that he obtain his own buyer's agent...or am I over-analyzing this?

Victor:

I'm not familiar with Texas law but would doubt that you need to disclose being a Realtor; however I'm reasonably sure that would need to disclose if you are a licensed real estate agent.

The general public has access to this forum site and I think it is important for them to understand that while all Realtors are licensed agents, not all licensed agents are Realtors. As such please do not use the term Realtor to describe someone without knowing that they belong to NAR and therefore have agreed to abide by the Code of Ethics, many other agents do not.

Mr. Foreclosure

As a general rule, most states require disclosure if you hold an active real estate salesperson's or broker's license in the state in which the transaction is being done.

That said, why not disclose? You'll never get in trouble for disclosing.