Can I do this and refer people out to other brokers and be paid a referral fee?
You need to contact the local Board of Realtors and/or the Real Estate Commissioner to let them know you want to be inactive. They may take your license and give you a copy for your files at home and put the original in your file at their office. This insures you are not practicing and keeps them up to date. If you don’t let them know and just take it home you could lose your realtor and broker licenses.
If you want to be paid a referral fee, you must have the agent you do business with state that you are a inactive broker so that the referral fee is legitimate. It will come back to haunt you and the agents you want to get paid from if you don’t.
June 30th, 2010 at 4:13 pm
You probably have a good understanding for the laws governing realestate in your area since you are a realtor.
References :
June 30th, 2010 at 4:54 pm
You need to contact the local Board of Realtors and/or the Real Estate Commissioner to let them know you want to be inactive. They may take your license and give you a copy for your files at home and put the original in your file at their office. This insures you are not practicing and keeps them up to date. If you don’t let them know and just take it home you could lose your realtor and broker licenses.
If you want to be paid a referral fee, you must have the agent you do business with state that you are a inactive broker so that the referral fee is legitimate. It will come back to haunt you and the agents you want to get paid from if you don’t.
References :
16 yrs real estate
Title & Escrow
Mortgage