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#459759 - 11/12/17 02:49 PM Would It Be Illegal To Prospect..
Logan Five Offline
Member

Registered: 01/18/17
Posts: 18
Loc: Northern CA
Would it be illegal to doorknock for seller leads BEFORE you get your license ? It's not against the law to contact people you know for leads.

I am in California. I figure that RE school is going to take 90 days, so those seller leads that are hot will have a waiting period of 30, 60, 90 days when they are ready to list.

Thoughts,

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#459760 - 11/12/17 03:41 PM Re: Would It Be Illegal To Prospect.. [Re: Logan Five]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
What does the California Bureau of Real Estate think about that idea ?

I think (and it doesn't matter what I think) that you're playing fast and loose with the Regulations, and the BRE won't look kindly upon it.

Probably a wiser approach would be to get a License first.
_________________________
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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#459761 - 11/12/17 04:12 PM Re: Would It Be Illegal To Prospect.. [Re: Vermont]
Logan Five Offline
Member

Registered: 01/18/17
Posts: 18
Loc: Northern CA
Originally Posted By: Vermont
What does the California Bureau of Real Estate think about that idea ?



I have no clue.

In a different industry, I worked as a Sales Asst for a local investment broker/stockbroker, and my job was to cold call leads via telephone. I called all day and the people who were interested in receiving info about a certain investment, I gave to the licensed broker for follow up.

I didn't need a license to do that.

I don't see why I can't doorknock, I am just finding out who's interested in selling.

I'll call the BRE and find out for sure. Thanks for your input !

Logan,

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#459762 - 11/12/17 06:08 PM Re: Would It Be Illegal To Prospect.. [Re: Logan Five]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 118
Loc: New Hampshire
Originally Posted By: Logan Five

In a different industry, I worked as a Sales Asst for a local investment broker/stockbroker, and my job was to cold call leads via telephone. I called all day and the people who were interested in receiving info about a certain investment, I gave to the licensed broker for follow up.

I didn't need a license to do that.

When you worked for the stockbroker, my guess is that you told prospects that you worked for his company. Your script and all of your actions would have been covered by his E&O and by his compliance management protocols. In real estate brokerage, you will be, in almost every case, an independent contractor, which means you may have to provide your own E&O. So, you likely won't have the covering that you had in stock brokerage work.

The problem is that you are going to have to tell people what company you work for when you go door-knocking. Since you are not licensed, you very likely won't be able to say that you work for a brokerage. CA may allow this, but I would be amazed because you will start getting information from prospects that should be kept confidential and you won't have a way to initiate a client relationship so as to maintain confidentiality. Depending on how the laws of agency work in CA, you may have to discuss agency at the time that the prospect begins disclosing confidential information. So, for that reason, you may need to be licensed to prospect.

The CA RE Commission will clarify all of this, but this is just my opinion reading your posts.

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#459764 - 11/12/17 09:00 PM Re: Would It Be Illegal To Prospect.. [Re: Long Walk]
Logan Five Offline
Member

Registered: 01/18/17
Posts: 18
Loc: Northern CA
Ok..I am going to wait to get my license. You convinced me lol.

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#459766 - 11/13/17 05:24 AM Re: Would It Be Illegal To Prospect.. [Re: Logan Five]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 118
Loc: New Hampshire
For what its worth, Logan, I think you will do great when you get started. Have you been reading in the cold calling thread?

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#459772 - 11/13/17 02:47 PM Re: Would It Be Illegal To Prospect.. [Re: Logan Five]
Logan Five Offline
Member

Registered: 01/18/17
Posts: 18
Loc: Northern CA
In my 30's I was a real estate agent, I am 53 now and looking to get back in the business. I did some of Mike Ferry's scripts when I was prospecting and did get some business from it. But, I didn't stick with it and started working with buyers and lost my focus.

I found Kevin Ward on youtube and he motivated me to get back in the business. I have a strong sales background and don't want to run out of money when I don't have any deals.

I'll check out the cold calling area of this message board. My real problem will be the technology that we didn't have 20 years ago.

I have other questions, but will leave that for another time.

Best,

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#459776 - 11/13/17 09:18 PM Re: Would It Be Illegal To Prospect.. [Re: Logan Five]
DJM Offline
Member

Registered: 07/21/14
Posts: 36
Loc: Massachusetts, USA
Logan, I like your spunk. You’ll do great once you get licensed. Good luck!

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