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Real Estate Agent / Broker Laws

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camz3

Junior Member
What is the name of your state?What is the name of your state? California

I am currently finding properties for a developer friend of mine across the USA. I am not a licensed agent or broker in the State of CA (or any other state for that matter). What I do: contact the sellers of properties in which my buyer is directing me to, taking his purhcase contract and sending it to the sellers agent or broker, looking up maps, apn's, titles searches through county clerks offices, etc. Being that my involvement in the process is extremely limited and I do NO negotiating on the buyers behalf ( he simply tells me what he wants to pay via his sales contract in which his office puts together), do I really need a brokers license to find properties and bring the parties together? I provide no services such as: escrow involvement, lending or finding lenders, etc. These are all cash purchases with very short time frames. His CFO has stated that I should at the very least put a standard contract together in which to have the sellers broker sign so that there is an understanding of what my fees are and what my involvement in the process should be. He has also suggested that I set up a S-Corp or LLC in which to run my fees through. On average, we are purhcasing about $200M in land per year.

Any response would be greatly appreciated and thank you in advance for your help with this question!!!
 


HomeGuru

Senior Member
camz3 said:
What is the name of your state?What is the name of your state? California

I am currently finding properties for a developer friend of mine across the USA. I am not a licensed agent or broker in the State of CA (or any other state for that matter). What I do: contact the sellers of properties in which my buyer is directing me to, taking his purhcase contract and sending it to the sellers agent or broker, looking up maps, apn's, titles searches through county clerks offices, etc. Being that my involvement in the process is extremely limited and I do NO negotiating on the buyers behalf ( he simply tells me what he wants to pay via his sales contract in which his office puts together), do I really need a brokers license to find properties and bring the parties together? I provide no services such as: escrow involvement, lending or finding lenders, etc. These are all cash purchases with very short time frames. His CFO has stated that I should at the very least put a standard contract together in which to have the sellers broker sign so that there is an understanding of what my fees are and what my involvement in the process should be. He has also suggested that I set up a S-Corp or LLC in which to run my fees through. On average, we are purhcasing about $200M in land per year.

Any response would be greatly appreciated and thank you in advance for your help with this question!!!
**A: yes you do need a real estate license unless you are directly employed by this one company.
 

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