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#313951 - 11/15/09 08:10 PM real estate percentage commission
law Offline
Junior Member

Registered: 11/15/09
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 - 11/15/09 08:28 PM Re: real estate percentage commission [Re: law]
Doin' bpose Offline
Major Contributor

Registered: 01/26/09
Posts: 2961
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 (11/15/09 08:31 PM)
Edit Reason: added thought.
_________________________
Trust your Maker. Watch your manager.

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#314745 - 11/21/09 10:49 PM 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 03:10 AM Re: real estate percentage commission [Re: law]
RIzwan Offline
Member

Registered: 04/04/12
Posts: 49
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 10:22 AM Re: real estate percentage commission [Re: law]
pikes peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2744
Loc: CO
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 11:01 AM Re: real estate percentage commission [Re: law]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4725
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 - 04/17/12 07:43 PM Re: real estate percentage commission [Re: Vermont]
Scintillion Offline
Member

Registered: 01/26/12
Posts: 85
Loc: Florida, 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 (04/17/12 07:44 PM)

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

Registered: 04/12/08
Posts: 4725
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 09:39 AM Re: real estate percentage commission [Re: law]
shana Offline
Major Contributor

Registered: 11/06/07
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 03:27 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! :)
_________________________
Check out http://estatesales.org to find estate sales in your area.

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