Short Sale Confusion

[Joel NA]

I posted this in the recent "short sale negotiator" thread but got no responses....can anyone offer some prespective or advice?

1. What separates a short sale negotiator from a someone who is acting as a realtor w/out a license?

2. Does there have to be a joint venture or another way for the negotiator's name to be on the offers made to the bank to make the transaction legal? How do short sale negotiators handle this when they work for investors?

A little background...I've got a buddy who finds the deals and negotiates with the banks. I buy and rehab. He's bringing me good deals that are "buy rights." We're trying to find the right legal framing of the relationship. I am interested in full disclosure.

Thanks in advance!