OMG!!! My RE Agent says it is illegal to market a property you don't own!

[Kevin C.]

WTH!

While working a potential offer on a property, a suggestion to my agent prompted this response from him:

[i]
While it sounds like a good idea the law prohibits the marketing of properties for sale or lease unless you own it.[/i]

Unbelievable that he would say that - I am stunned!

[Jon Frame]

Originally posted by Kevin C.:

Home is listed with MLS, there are no offers on it at this time - it's a property I'm considering.

Do you mean marketing it while you are considering it? If that's the case then it is 100% ILLEGAL !!!!

The Real Estate Commission can fine you for practicing Real Estate without a license. You need to get it under contract first, with "and/or assigns" or an option agreement where you have a legal interest in the property with a Earnest Money Deposit. That makes you a principle in the transaction with interest in the property. You are basically selling the contract, flipping it or whatever. This is 100% Legal in all states.