Married To a RE Agent? Should It Effect Investing????

Question

Hey there!

My wife is currently studying to get her RE license. Her brokerage is telling her she shouldn't get her license since I (her husband), invest in real estate due to liabilities and law suits???

Is this true?

I've seen so many husband/wife combos.

Would I have to disclose anything to potential sellers since I'm not an agent?

Any help on this?

Jim Cummings · Answer

@Alec Hilliard. Time for the wife to find a new brokerage that values business created by family members.

Alec Hilliard · Answer

Perfect!

I had a meeting with RE Attorney and he said the same thing as well. No reason to disclose if she's not a part of the deal on the buyer or seller side. :)

Greg H. · Answer

In Texas, your wife would need to disclose the relationship when acting as an agent on your behalf.  You have no requirement to disclose

Brad Hammond · Answer

No, that doesn't make sense to me.  She would probably want to tell the listing agent once you are under contract but that's about it.

Brad Hammond · Answer

Hey @Alec Hilliard, I don't understand where the brokerage is coming from.  Yes, agents are held to a higher standard but as long as you are not doing anything shady, it shouldn't matter.

If your wife will be on the offer, loan or title she would need to disclose that she is an agent.  If it is just you, however, it shouldn't be as big of an issue.  She just needs to state she is related to the seller when you list a property.

Jonathan Styer · Answer

@Alec Hilliard This is a new one. What's next, you shouldn't own a home because someone might trip on the sidewalk and sue because she is an agent? Consider if that is the right broker for her. If they're telling her that she should not get her license then maybe not. Best of luck to her!

Alec Hilliard · Answer

@Brad Hammond for sure. I feel like they are making it a way bigger deal than it really is and that’s what’s confusing me.

Alec Hilliard · Answer

We are in TX by the way.

Alec Hilliard · Answer

@Brad Hammond

Absolutely! For example, if we flip the property and then my wife a list of that… She would totally have to disclose that she is married to the seller.

But the broker is telling her that when I make offers on off market properties I need to disclose that “I am married to a real estate agent and that it is a fair offer”￼ 😂

Does that make any sense to you? ￼

Alec Hilliard · Answer

@Jonathan Styer

This is exactly my point. It seems a little over the top to me. Me and my business partner aren’t doing anything shady. My wife is not even a part of the LLC that we invest with. I don’t see any reason to disclose that my wife is a real estate agent because she does not have any interest in the business.

Married To a RE Agent? Should It Effect Investing????

Most Popular Reply