Must I pay a commission split for this type of Deal?

[Dany Namou]

Hi friends,

Here is my question. a friend of mine has a fairly large real estate development deal he wants to market privately to large investors. 

He has asked me to reach out to my SOI for a potential investor. IF I find him an investor, he has said (and written in contracts) I would be entitled to a fairly significant finders/consulting fee.  Also note this development is outside the state where I hold my license. 

Now as a licensed realtor, do I owe my broker any part of this consulting/finders fee?

I would think not, but I am not certain. 

[Mindy Jensen]

@Dany Namou , you have been given the same advice multiple times in this discussion. It is a violation of licensing law to receive payment for services from anyone other than your broker. It is a violation of licensing law to broker deals without a license - which is what you would be doing by connecting a buyer and seller in a state where you do not have a license.

Obviously you're talking high dollar figures. You seem determined to participate in it - you should speak to an attorney to determine any consequences from your participation. 

How much is the fee? Is it worth losing your license over?

Also, while you're talking to the attorney, ask if non-competes are enforceable in your state. Many states they are not. It seems ridiculous that he could make you sign a non-compete.