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#313951 - 11/16/09 02:10 AM real estate percentage commission
law Offline
Junior Member

Registered: 11/16/09
Posts: 2
Loc: North CArolina
IM NEW BUT IM NOT A AGENT.

I HAVE A SCENARIO...

My neighbor wants to sell his home. I know someone looking for a home. He says he’s willing to pay me a 5,000.00 fee, if I put the deal together. I’m not a licensed real estate broker. It is ok since I’m not charging a percentage commission?

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#313954 - 11/16/09 02:28 AM Re: real estate percentage commission [Re: law]
Doin' bpose Offline
Major Contributor

Registered: 01/27/09
Posts: 3348
Loc: Old Dominion
No difference b/w a flat fee ot a % if that is your question. Compensation can be in Gazoos or lightbulbs or dollars.

Is it legal? Consult an attorney. Is it wise? I say no. What are you going to do for your fee? Do you know what you are doing? Who are they going to blame when things go wrong, and they will. Who do you work for? If the buyer and seller go different ways, will you still be able to be on good terms with them? Things for you to consider.


Edited by Doin' bpose (11/16/09 02:31 AM)
Edit Reason: added thought.
_________________________
I can't. I'm going camping.

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#314745 - 11/22/09 04:49 AM Re: real estate percentage commission [Re: Doin' bpose]
Viktor Offline
Veteran Member

Registered: 09/23/07
Posts: 874
Loc: Dallas, TX
You can not sell real estate if you are not licensed, just find different reason to take the money, may be as marketing consultant etc.
_________________________
Viktor Taushanov
William Davis Realty
Dallas, TX
http://homesforsaleindfw.com
http://northdallas.blogspot.com
Viktor.RealtyBG@gmail.com
http://www.linkedin.com/in/viktortaushanov


I love referrals!

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#405135 - 04/17/12 08:10 AM Re: real estate percentage commission [Re: law]
RIzwan Offline
Member

Registered: 04/04/12
Posts: 99
Loc: Pakistan
Oh :) Dude a very good opportunity to earn money has been given to you from your neighbor :rockon: , it's your first time i think it's just fine, you should not talk him about commission percentage.
_________________________
Carpet Cleaning | Duct Cleaning NJ | Steam clean

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#405144 - 04/17/12 03:22 PM Re: real estate percentage commission [Re: law]
Pikes Peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2799
Loc: FL
REQUIREMENT FOR A LICENSE (in North Carolina)
General [G.S. 93A‑1 and 93A‑2]
Any person or business entity who directly or indirectly
engages in the business of a real estate broker
for compensation or the promise thereof while physically
in the state of North Carolina must have a North Carolina
real estate broker license. In North Carolina, a real estate
licensee may only engage in brokerage as an “agent” for
a party to a transaction. Thus, a real estate licensee is
commonly and appropriately referred to as a real estate “agent”
even though the latter term does not actually appear in the
License Law……

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#405152 - 04/17/12 04:01 PM Re: real estate percentage commission [Re: law]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7645
Loc: Vermont's North-East Kingdom
Until this morning, this thread was more than two (2) years old.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#405193 - 04/18/12 12:43 AM Re: real estate percentage commission [Re: Vermont]
Scintillion Offline
Member

Registered: 01/26/12
Posts: 437
Loc: Colorado, USA
Originally Posted By: Vermont
Until this morning, this thread was more than two (2) years old.


Have to love it when the past is dug up, followed by useful and relevant information then discussed about it!


Edited by Scintillion (04/18/12 12:44 AM)

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#405219 - 04/18/12 12:07 PM Re: real estate percentage commission [Re: law]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7645
Loc: Vermont's North-East Kingdom
True; but we can't be too disappointed if the OP and his interest isn't resurrected. He's probably already done what he was going to do.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#405368 - 04/21/12 02:39 PM Re: real estate percentage commission [Re: law]
shana Offline
Major Contributor

Registered: 11/07/07
Posts: 1602
Loc: Nevada
No, you cannot "put a deal together."

but, the important question here is whether a "referral fee" to an unlicensed person is allowed in NC.

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#406193 - 05/04/12 08:27 PM Re: real estate percentage commission [Re: shana]
Brit16 Offline
Member

Registered: 05/04/12
Posts: 51
Loc: Texas
Wow....I wish someone would offer me this type of money for a service. As long as it was legal of course! :)

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#408332 - 06/10/12 02:33 AM Re: real estate percentage commission [Re: Brit16]
Dave23 Offline
Member

Registered: 02/19/10
Posts: 164
Loc: New York
and the conversation continues on the 2 year old dead thread..lol
_________________________
WNY Real Estate Investors Facebook Group

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#415544 - 11/11/12 05:46 AM Re: real estate percentage commission [Re: law]
davelemon Offline
Member

Registered: 08/26/12
Posts: 43
Loc: Vancouver, Canada
You cannot put the deal together...only when u are licensed

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#415592 - 11/12/12 08:22 PM Re: real estate percentage commission [Re: davelemon]
Malok Offline
Member

Registered: 08/18/07
Posts: 441
Loc: Kentucky - in a barn!
Originally Posted By: davelemon
You cannot put the deal together...only when u are licensed


Old thread, but this. smile

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#452816 - 05/30/16 05:02 AM Re: real estate percentage commission [Re: law]
Durise123 Offline
Member

Registered: 05/15/16
Posts: 45
Loc: Emirates, Dubai
No, you haven't right to take the commission.

First of all, You have no any agent licence. Without a licence it will be count as a illegal work. So be careful.

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#452841 - 05/31/16 09:40 PM Re: real estate percentage commission [Re: law]
mrstruesdell Offline
Junior Member

Registered: 05/21/16
Posts: 4
Loc: Florida
even though this is old im still going to reply. Legal smegal you tell your friend who is looking that you know someone selling. Tell them BOTH you make no promises on anything & DON'T SIGN ANYTHING. You hook them up & you get paid that simple. They are adults and can work the rest out.

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#452848 - 06/01/16 08:38 AM Re: real estate percentage commission [Re: shana]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3040
Loc: LAND OF THE FREE!
Originally Posted By: shana
No, you cannot "put a deal together."

but, the important question here is whether a "referral fee" to an unlicensed person is allowed in NC.


personally, i just sell vanilla real estate, nothing out of the box and typically hate any of htat investor crap as many can't perform on what they want to put on paper..but to answer.

op could offer to buy home for 100k. and sell his contract to the friend for 105k. very simplified way of explaining it, but it's done in my market all the time by the annoying wholesalers.

you are not at that point providing real estate services, buti nstead selling your contract. i'd get a lawyer to put it together for me if i were in op's situation and i could turn back the clock 2 years.

ps...did i mention i hate investors who try and do what i mentioned above...reason i hate it is because if htey cnat find someone to buy their contract, the deal becomes dead.

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#453532 - 07/22/16 05:27 AM Re: real estate percentage commission [Re: law]
John Herman Offline
Member

Registered: 07/10/16
Posts: 12
Loc: Illinois
Your percentage of commission is fine as per recent calculation. And off course its legal to work as broker. But thing is all your deals should be done under the legal property premise.


Edited by John Herman (07/22/16 05:27 AM)

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#453536 - 07/22/16 06:26 AM Re: real estate percentage commission [Re: John Herman]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7645
Loc: Vermont's North-East Kingdom
Originally Posted By: John Herman
Your percentage of commission is fine as per recent calculation. And off course its legal to work as broker. But thing is all your deals should be done under the legal property premise.


This thread is now Seven (7) years old . . . . but, without a License, it's still illegal !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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