Hi everyone,
We are a software company from India and we are planning to build a software to assist people from the real estate business with USA and Canada In mind.
We have a very differrent procedure out here in INdia and i would like you to please clear my doubts on the following.
1.Is it possible for anyone to sell/buy property wothout involving an agent /Broker or is it illegal.
2.A broker is a company or INdividual with a longer and broader standing than an Agent.What are his duties for a mistake committed by his agent legally.
3.An agent can be an agent of one or more Brokers?
4.Can an Agent become a broker and what are the prerequisite for the same.
I am not sure if it is allright for me to post these questiond here.
Thanks for the help in advance,
Warm regards,

You are building software to assist people in the real estate business-------
and you don't know the answer to these questions??

Purchase a Basic Real Estate Prinicple and Practice Book.

LOL How are you going to Help... when you have no idea on what your doing??? It appears you would be helping attornies find clients being sued. You will probably need one to!!!

Is the book you mentioned availaible on the web.
And about helping I will share what I have you share what you have and then we both have more than what we began with.
Let us see how things take shape...........

Hi everyone,
We are a software company from India and we are planning to build a software to assist people from the real estate business with USA and Canada In mind.
We have a very differrent procedure out here in INdia and i would like you to please clear my doubts on the following.
1.Is it possible for anyone to sell/buy property wothout involving an agent /Broker or is it illegal.
Answer: Yes and No
2.A broker is a company or INdividual with a longer and broader standing than an Agent. What are his duties for a mistake committed by his agent legally?
Answer: The duties are to supervise the agent.
3.An agent can be an agent of one or more Brokers?
Answer: Yes, as long as there is no competition.
4.Can an Agent become a broker and what are the prerequisite for the same.
Answer: Yes and No. Some states only have brokers. Prerequisites for licensure vary from state to state
I am not sure if it is allright for me to post these questiond here.
Thanks for the help in advance,
Warm reg

Laws governing real estate vary by state....so you'll get 50 different sets of answers. Here is my response with regard to Texas:

1. Yes and no....depends on the situation.
2. Same as Pike's answer above.
3. No
4. Yes, 2 years as an active agent + required education + pass state broker's exam.

At least, these are the rules as I understand them.

What kind of assistance is your software to provide? Assistance for real estate professionals?.....or trying to help FSBOs? Or yet another system to try to sell leads to agents?

Yes its possible and legal. Although may and or may not be advisable.
Not really sure what you are asking. Agents are independent contractors who are required to operate under a broker who is responsible. However in some states there are no agents only brokers. Most of the differences are between the broker and agent. For you it would be a broker can take money is his or her name and an agent has to run it through their registered broker. Generally a broker does have more knowledge. For example when I went through my agent class they pretty much taught me the laws of real estate not what to do. When I went through my broker class although I was an agent for over ten years first I noticed that the broker class went into much more of what we do on an everyday bases. When I got through my broker class I was thinking I wish there was a requirement that every one go through the broker class before 3 years.

Simple put No
We can have several clients but only one registered broker.
Yes they can as I did. As to the prerequesites its different in each and every state. Here in Florida its
1 Be at least 18 yeasr old
2 Have a high scholl diploma or its equivalent
3 Be honest, trustworth, and of good charactor
4 br competent and quailified to make real estate transactions.
5 Can not be convicted of a crime or entered pleas of nolo contendere
6 Can not be encolved with charged of moral turpitude
7 Can not have been denied a licensure in another state

And for a broker must have at least 12 months of real estate experence during the five years preceding application for broker.

And of coruse there is educational requirements for each.