I'm not an agent but would like to hear from Florida agents about this disclaimer I found on an ad in a local Facebook buy/sell page.
They state they do not claim to be licensed real estate agents or brokers and are just a real estate investment firm but are marketing properties for sale. How is this legal?
"Brilliant Home Buyers, LLC does not claim to be the owner of the properties we market for sale. If we are not the owners then we simply have an equitable interest in the property. Brilliant Home Buyers, LLC is a real estate investment firm and does not claim to be licensed real estate agents or brokers."
CYA .. you would have to take that add and file a complaint with the state to see what their stance on this is.. they are marketing properties they don't own.. and trying to hide behind the equitable theory .
@John Thedford he might be able to shine some light on this as he is a Forida broker.
also I did a lot of funding in that state.. and the for real bigger player wholesalers were ALL licensed.
This MAY be illegal. If they own the properties that is legal. If they are playing the assignment game, and are using contracts to broker, this is a violation of 475.42 and 475.43. If they do not own them and are not licensees they are brokering without a license which is a 3rd degree felony.
thanks @Jay Hinrichs for allowing me to contribute.
According to their advertising they are CLUELESS unlicensed brokers and should be reported. If they WERE brilliant they would not be in violation of brokering laws LOL.
@John Thedford if I was a betting man I would bet they don't own them they are claiming a equitable interest simply because they have them under contract.
now I get the occasional assignment.. but when your whole business model or scheme is to simply go into contract then take assignment fee's that is were the distinction lies.. like I said take the post file a complaint and see what the state does.
I had a Washington state wholesaler send me a unsolicited e mail with a marketing piece on a property they did not own.
trying to assign or double close ( which can only happen here if they have transactional funding or their own dough).. but nice picture flyer was exactly what a realtor would do.
I printed out.. took 5 minutes and filed a complaint with the state for wholesaler trying to sell Oregon property without a license.
I know its illegal here one of my bird dogs got turned in and it cost him 3k in legal fee's and cease and desist.. ergo that's why all deals now come to me.. and I buy them then we resell them.. neighbor turned him in because he simply had a sign in the yard with his company name and phone number. neighbor knew he did not own the home.
so it really depends on if anyone will file complaints.. then its up to the state to follow up.
They just opened their LLC in July of this year. Please PM me the FB page.
Wholesaler Hunter LOL
They will find out in the near future this is ILLEGAL and is brokering WITHOUT a license.
Here is the link to file complaints:
I sent this guy a FB message. He told me it "wasnt going to work" LOL. Told me to report him LOL!
He is CLUELESS
Wholesaler Hunter:) or should I rephrase that unlicensed broker hunter LOL
A BAR SALE
Any of these, FOR ANOTHER, is a brokerage activity.
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