Should I become the BIC?

[neilsonh@bellso]

What is the name of your state? North Carolina.

I'm a licensed sales person in NC. I'm working as a salaried office assistant for a real estate developer. He is not licensed, but is representing several investor/clients in large land transactions. The company holds a real estate license (corporate license as required by NC) for our home sales. I've been asked to take the Broker in Charge position. Will I be responsible for the owner of the company even if he is not licensed? He is however, under a "development contract" that states he is paid fees (% of land sales) directly from owners/sellers. In essence he is recieving a commission for brokering a transaction, however, he seems to not be concerned be cause they call it a fee. What should I do?

What is the name of your state?

[seniorjudge]

Originally Posted by neilsonh@bellso

What is the name of your state? North Carolina.

I'm a licensed sales person in NC. I'm working as a salaried office assistant for a real estate developer. He is not licensed, but is representing several investor/clients in large land transactions. The company holds a real estate license (corporate license as required by NC) for our home sales. I've been asked to take the Broker in Charge position. Will I be responsible for the owner of the company even if he is not licensed? He is however, under a "development contract" that states he is paid fees (% of land sales) directly from owners/sellers. In essence he is recieving a commission for brokering a transaction, however, he seems to not be concerned be cause they call it a fee. What should I do?

What is the name of your state?

Good questions. Call the bureaucrats who regulate real estate agents in your state and ask them your questions.