Originally posted by npguy:
2)CAN I MARK UP THE SALE OF A PROPERTY TO MAKE MONEY WITH THE SELLERS PERMISSION. EXAMPLE SELLER IS SELLING PROPERTY FOR 100,000. PROPERTY IS WORTH 150,000. I MARK UP PROPERTY WITH SELLERS PERMISSION TO 120,000.
IS THIS LEGAL IF SELLER PAYS ME 20,000 FROM HIS PROFIT. :rolleyes:
Your talking about a Net Listing. Net listings are Illegal in some states because it makes it easy to "forget" about a offer to show to your client if it's offer is too low (put your best interest's above your clients). There are legal in Nevada, but you would have to see about in your home state of Georgia.
If you must take a net listing and they are not Illegal in your state, what you should do is tack on your fee, like 6%, to the sale, Don't forget to get permission first.
And yes, they are frowned upon.