Do realtors have to disclose they are licensed when purchasing a rental for their personal portfolio?

27 Replies

Having a license opens some doors, and closes other doors. Buying properties at severe discounts poses no issue for a member of the general public but can open a licensee up to potential liabilities. Also using assignable contracts is generally off limits for licensees.

Russel Brazil - I thought as a licensed Agent (sales person) you were okay to assign contracts, so long as your Broker is aware?  Is this not correct?  I'm in Idaho.

Originally posted by @Andrew Wheeler :

Having a license opens some doors, and closes other doors. Buying properties at severe discounts poses no issue for a member of the general public but can open a licensee up to potential liabilities. Also using assignable contracts is generally off limits for licensees.

Russel Brazil - I thought as a licensed Agent (sales person) you were okay to assign contracts, so long as your Broker is aware?  Is this not correct?  I'm in Idaho.

 If you put a property under contract for X, and assign it to a buyer for Y, and collect the net between X and Y....doesnt that sound like a Net Listing? Sure sounds like it to me.

I think when you talk to the seller telling them you're interested in buying their property then disclose you are an agent not interested in the listing, if after mentioning that  hey get upset and don't even want to discuss further than it just shows that they are not motivated or feel that they need to sell and it just saves you the wasted trip driving over there, if they are motivated and they want to meet to sell their house but after analyzing it isn't a good deal to buy they may ask, well can you list it for me?