OT - Real Estate License
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OT - Real Estate License (by Paul [MD]) Jan 9, 2018 3:57 PM
       OT - Real Estate License (by NC INVESTOR [NC]) Jan 9, 2018 5:07 PM
       OT - Real Estate License (by cjl [NY]) Jan 10, 2018 8:40 AM
       OT - Real Estate License (by NC INVESTOR [NC]) Jan 10, 2018 8:52 AM
       OT - Real Estate License (by Don [PA]) Jan 10, 2018 9:23 AM
       OT - Real Estate License (by melinda [MD]) Jan 10, 2018 2:56 PM

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OT - Real Estate License (by Paul [MD]) Posted on: Jan 9, 2018 3:57 PM
Message:

Hey All, I had an off topic question I cant seem to find an answer to quickly. I have my real estate license and I am helping my brother sell his rental property. My license expires in mid March. The question is, if I find a buyer while I am licensed and everything is in order but settlement takes place after my real estate license expires, can I still facilitate the transaction. I not renewing my license. Thank you

--174.255.xxx.xx




OT - Real Estate License (by NC INVESTOR [NC]) Posted on: Jan 9, 2018 5:07 PM
Message:

NO!

An expired license is no license. Only a licensed agent can participate in any transaction that requires a license and saes is at the top of the list.

You may not want to remain active in the business but there is value to maintaining an active license. You only need to complete your state mandated CE and pay a paltry fee. MD you only requires CE every two years.

Our CE classes are generally filled to the brim with licensees who haven't been active in years but maintain their license. Many of them make a good income just from referral fees...which you cannot get if you are not licensed.

If you want to help your brother you need to hustle. You need to be under contract no later than the beginning of Feb. depending on when in March you'er done.

--71.75.xx.xx




OT - Real Estate License (by cjl [NY]) Posted on: Jan 10, 2018 8:40 AM
Message:

Honestly it's between you and your Broker ... you need to ask them NOT us.

Legally, your broker owns that listing and that sale. If you no longer are a licensed agent - your broker gets the sale, not you. --209.217.xxx.xx




OT - Real Estate License (by NC INVESTOR [NC]) Posted on: Jan 10, 2018 8:52 AM
Message:

cjl

you are assuming he has a broker. He could be an independent which means the brother would need to find a broker to represent him to complete the sale. And since he would no longer be licensed he would not be able to collect a referral fee. --71.75.xx.xx




OT - Real Estate License (by Don [PA]) Posted on: Jan 10, 2018 9:23 AM
Message:

Cj, it is not between him and his broker. A broker does not have the option of paying commissions to people without licenses --73.141.xxx.xxx




OT - Real Estate License (by melinda [MD]) Posted on: Jan 10, 2018 2:56 PM
Message:

Speak with your broker. He/She can work it out for you. --24.233.xxx.xx



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