Q: Licensed real estate agent question
I am a licensed real estate agent in Michigan, but do not practice as one. I have a friend who lives in California & I viewed several properties he's going to buy, took photos, and retrieved info from the seller for him since we are both local and he isn't. At closing he has proposed the title company paying me through a JV Agreement a "marketing" or "administrative" or "consulting" fee for helping him. There isn't a real estate agent involved and I didn't act as one. My question is can I be paid directly without violating licensing law? It is unclear to me as I did not act as a realtor or negotiate the sale, but it could appear that way. Thank you!
A: Rather than go out on the 'net and do legal research before answering this question I will suggest an alternative that skirts around all the sticky legal issues: Have you friend pay you personally--outside the closing--thereby avoiding a paper trail.
A:
Ethically we cannot provide 'legal advice' on a public forum like this. You will need to hire your own attorney to get a real answer to such a specific question.
HOWEVER, because you are a licensed 'anything' does not mean you can't perform work in some other field as well. Just because I have a CDL and drive a taxi for example, doesn't mean I can't help a friend move and have him pay me $50 to help cover my gas and time for example. Why would there be a violation of licensing law if what you did wasn't acting as a real estate agent? If what you did WAS 'act as his real estate agent' then -- if you are licensed -- why would that cause issues?
You NEED to talk to your own attorney to flesh out all the details. There is no 'one right answer' and playing games is not a good idea!
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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