I am an profession as well as we am seeking to buy my initial home. we have the tighten family part of who is the realtor though wish to equivocate fixing the attorney upon the suggest so we can reap the benefits of the commission. we have been told which we am incompetent to paint myself unless we have my broker’s license, is this true? What about if the elect check is done out to my law organisation as against to myself, does which have the difference? Does any one know of any authorities which we can anxiety in my evidence per this issue?
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Comments: 3 comments
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Big Deal Maker
February 8th, 2010 at 12:29 pm
As a attorney this would be part of your training as an attorney in classes.
As an attorney you should know that you can not collect a commission of the sale of a home unless you are licensed to so in the state.
Walk in and take the test to be a broker you have the schooling as a attorney.
acermill
February 8th, 2010 at 12:29 pm
You can always represent yourself, BUT you cannot collect any commission involved unless you are a licensed real estate broker. Such commission payments are nearly universally restricted by state law to be paid only from ONE brokerage firm to ANOTHER brokerage firm.
Of course, if you have a broker’s license, then you ARE a ‘brokerage firm’. Many states waive education and testing requirements for licensed attorneys, since they are expected to be well versed in all phases of law, including real estate law.
Somehow, you missed that part of your bar exam.
estielmo
February 8th, 2010 at 12:29 pm
You have no "benefits of commission," as it goes to the listing agent. You and your law firm have standing in the dispersal of the commission.
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