Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
Nusetlock.com




REO Prep Foreclosure Listings




How To Advertise Here

More Good Ideas!
Real Estate Websites for Realtors




Build your brand on a Real Estate Site





Facebook
Page 3 of 3 < 1 2 3
Topic Options
Rate This Topic
#270520 - 01/21/09 11:06 AM Re: Serious question [Re: Bigtoe]
shana Offline
Major Contributor

Registered: 11/06/07
Posts: 1520
Loc: Nevada
well, NC may have defined or restricted agent activities under state law. but in general, there is pass-through legal liablility from the agent to the broker to the client.

Top
#270546 - 01/21/09 12:21 PM Re: Serious question [Re: shana]
Bigtoe Offline
Veteran Member

Registered: 10/14/07
Posts: 1215
Loc: Outer Banks
Correct, the liability flows from the agent to the broker but an agent can not perform broker activities even if they are supervised by a broker.
_________________________
Your Outer Banks real estate agent. Learn how to buy an Outer Banks Foreclosure property.

Top
#271116 - 01/24/09 10:49 AM Re: Serious question [Re: Bigtoe]
GreatLakesBroker Offline
Member

Registered: 01/09/09
Posts: 18
Loc: Great lakes
Sorry, been gone a few days.

State licensing varies. In Michigan there is a distinction between what a Broker can do and what a licensee can do. Not everything that a Broker does, is permisable for a sales person to do. 100% liability for actions runs up hill (Broker is totally responsible for the actions of their sales persons, but the sales persons are limited, by law, of what they can do.

If Michigan wanted licensees to collect a fee for valuation services, they wouldn't have singled out the Broker as able to collect a fee, when they grouped both classes together when stating who can perforn the service.


Edited by GreatLakesBroker (01/24/09 02:17 PM)

Top
#271147 - 01/24/09 01:14 PM Re: Serious question [Re: GreatLakesBroker]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
In New York the payment must go to the broker regardless of who did the work. The broker then pays the agent if the agent actually performed the service.

Top
#271155 - 01/24/09 02:20 PM Re: Serious question [Re: Mr. Foreclosure]
GreatLakesBroker Offline
Member

Registered: 01/09/09
Posts: 18
Loc: Great lakes
[quote=Mr. Foreclosure]In New York the payment must go to the broker regardless of who did the work. The broker then pays the agent if the agent actually performed the service. [/quote]

That's the way it is for "Brokerage" services here too. But regardless of that, Licensees in Michigan can not legally be paid for ANY valuation services. Even if the service is legal. (All BPOs are not)

Top
#271165 - 01/24/09 03:30 PM Re: Serious question [Re: GreatLakesBroker]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
So far I am not aware that the legality of paying for BPOs has been challenged in New York.

Top
Page 3 of 3 < 1 2 3






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Idea!
REO and Short Sale Listings
Sponsors

Newest Members
Jazzman, Home Moaner, Harrisk, Stckrap, Torrey
20756 Registered Users
Who's Online
22 registered (75Corvette, AmberS, 2 state broker, c302, bluebird, 3 invisible), 196 Guests and 0 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
DueDiligence 90
Vermont 88
HomeTeamGA 51
shana 40
pro 40
smg 40
pikes peak 39
75Corvette 37
Kjmendy 36
Brad - W4BJM 36
Doin' bpose 34
Artiste 34
realyte 31
Rezo 29
VABroker 28
(Views)Popular Topics
No new orders today 3950148
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 2024170
Stupid MLS comments. 840820
EML 457988
Evalonline 299343
Land America 284999
Mainstreet 261427
What do you know about Froy Candelario, top agent in USA 248494
Pay it Forward - BPO/REO Tips & Tricks I & II 223425
New HUD Listing Brokers---Any Update? 222831
Is there religious content in Buffini class? 197288
Stupid QC comments and BPO requirements. 187223
FARVV 177240
REOTRANS 151291
USRES / RES.NET 147574
AVM Bpos 139412
asset val seminar in colorado 134399
FARVV 126751
Let's talk about our cars 120318
PAS 118318
Featured Member
Registered: 04/11/06
Posts: 70

How To Advertise Here


This site presented by RNC Internet Services