Comments on: Investor/Agent Hybrids…Should You Disclose? http://reitips.com/should-real-estate-investors-agents-disclose/ Real Estate Investing, Undressed: Tips, ideas and news real estate investors can use. Tue, 07 Feb 2012 18:38:00 +0000 hourly 1 By: Robert Whitelaw http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-1285 Robert Whitelaw Sat, 03 Jan 2009 23:01:21 +0000 http://reitips.com/?p=588#comment-1285 Out here in California, the rules are the same - you gotta disclose and you gotta do it early. I often go out house hunting for myself and I too have never had a problem. Even worse, I am a broker with an active real estate company operating. I just let them know pretty much what you said, I am not looking to list their home or pummel them with my real estate mojo. I have never had anyone react strangely to me pointing out my status as a real estate broker. R <abbr><em>Robert Whitelaw´s last blog post..<a href="http://www.soldbyrobert.com/content/view/276/45/" rel="nofollow">CYA 2008, Hello 2009!</a></abbr></em> Out here in California, the rules are the same – you gotta disclose and you gotta do it early.

I often go out house hunting for myself and I too have never had a problem. Even worse, I am a broker with an active real estate company operating. I just let them know pretty much what you said, I am not looking to list their home or pummel them with my real estate mojo. I have never had anyone react strangely to me pointing out my status as a real estate broker.

R

Robert Whitelaw´s last blog post..CYA 2008, Hello 2009!

]]> By: Robert Whitelaw http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-149035 Robert Whitelaw Sat, 03 Jan 2009 23:01:00 +0000 http://reitips.com/?p=588#comment-149035 Out here in California, the rules are the same - you gotta disclose and you gotta do it early. I often go out house hunting for myself and I too have never had a problem. Even worse, I am a broker with an active real estate company operating. I just let them know pretty much what you said, I am not looking to list their home or pummel them with my real estate mojo. I have never had anyone react strangely to me pointing out my status as a real estate broker. R <abbr><em>Robert Whitelaw´s last blog post..<a href="http://www.soldbyrobert.com/content/view/276/45/" rel="nofollow">CYA 2008, Hello 2009!</a></em></abbr> Out here in California, the rules are the same – you gotta disclose and you gotta do it early.

I often go out house hunting for myself and I too have never had a problem. Even worse, I am a broker with an active real estate company operating. I just let them know pretty much what you said, I am not looking to list their home or pummel them with my real estate mojo. I have never had anyone react strangely to me pointing out my status as a real estate broker.

R

Robert Whitelaw´s last blog post..CYA 2008, Hello 2009!

]]> By: Brooks http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-1166 Brooks Mon, 22 Dec 2008 15:42:14 +0000 http://reitips.com/?p=588#comment-1166 Great Post! Funny, because I've been researching this exact topic for the past few weeks trying to decide whether or not to get my license. A broker/investor I know advised against it because of the disclosure. But if that's the only reason, it doesn't seem all that bad. Just make it a habit. Are there any other reasons besides the disclosure? Does your creativity in doing deals disappear? <abbr><em>Brooks´s last blog post..<a href="http://mobilepmic.collectivex.com/discussion/topic/show/126375" rel="nofollow">17497 Seldon Street</a></abbr></em> <blockquote><strong>From JP: Personally I see no reasons why my creativity would be stifled in any way. Now as a licensed agent, you are accountable to a "higher standard". So you'd bee less likely to get away with pleading ignorance of the law if you flubbed up. But I'm not looking for excuses to get out of my mistakes anyway. :-) Other downsides to being licensed might include: Required to take regular classes to stay "current"; paying dues and fees for board of realtors, MLS dues and possibly other "privileges". ...jp</strong></blockquote> Great Post!
Funny, because I’ve been researching this exact topic for the past few weeks trying to decide whether or not to get my license.
A broker/investor I know advised against it because of the disclosure. But if that’s the only reason, it doesn’t seem all that bad. Just make it a habit.

Are there any other reasons besides the disclosure? Does your creativity in doing deals disappear?

Brooks´s last blog post..17497 Seldon Street

From JP: Personally I see no reasons why my creativity would be stifled in any way. Now as a licensed agent, you are accountable to a “higher standard”. So you’d bee less likely to get away with pleading ignorance of the law if you flubbed up. But I’m not looking for excuses to get out of my mistakes anyway. :-)

Other downsides to being licensed might include: Required to take regular classes to stay “current”; paying dues and fees for board of realtors, MLS dues and possibly other “privileges”.

…jp

]]> By: Brooks http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-149034 Brooks Mon, 22 Dec 2008 15:42:00 +0000 http://reitips.com/?p=588#comment-149034 Great Post! Funny, because I've been researching this exact topic for the past few weeks trying to decide whether or not to get my license. A broker/investor I know advised against it because of the disclosure. But if that's the only reason, it doesn't seem all that bad. Just make it a habit. Are there any other reasons besides the disclosure? Does your creativity in doing deals disappear? <abbr><em>Brooks´s last blog post..<a href="http://mobilepmic.collectivex.com/discussion/topic/show/126375" rel="nofollow">17497 Seldon Street</a></em></abbr> <blockquote><strong>From JP: Personally I see no reasons why my creativity would be stifled in any way. Now as a licensed agent, you are accountable to a "higher standard". So you'd bee less likely to get away with pleading ignorance of the law if you flubbed up. But I'm not looking for excuses to get out of my mistakes anyway. :-) Other downsides to being licensed might include: Required to take regular classes to stay "current"; paying dues and fees for board of realtors, MLS dues and possibly other "privileges". ...jp</strong></blockquote> Great Post!
Funny, because I’ve been researching this exact topic for the past few weeks trying to decide whether or not to get my license.
A broker/investor I know advised against it because of the disclosure. But if that’s the only reason, it doesn’t seem all that bad. Just make it a habit.

Are there any other reasons besides the disclosure? Does your creativity in doing deals disappear?

Brooks´s last blog post..17497 Seldon Street

From JP: Personally I see no reasons why my creativity would be stifled in any way. Now as a licensed agent, you are accountable to a “higher standard”. So you’d bee less likely to get away with pleading ignorance of the law if you flubbed up. But I’m not looking for excuses to get out of my mistakes anyway. :-)

Other downsides to being licensed might include: Required to take regular classes to stay “current”; paying dues and fees for board of realtors, MLS dues and possibly other “privileges”.

…jp

]]> By: Ryan Evans http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-564 Ryan Evans Sat, 22 Nov 2008 09:34:18 +0000 http://reitips.com/?p=588#comment-564 Hey, Awesome article as always!I have been visiting your blog from quite a long time and I must admit your articles are truly very helpful and informative. I am sure you will continue the same way. Hey, Awesome article as always!I have been visiting your blog from quite a long time and I must admit your articles are truly very helpful and informative. I am sure you will continue the same way.

]]> By: Ryan Evans http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-149033 Ryan Evans Sat, 22 Nov 2008 09:34:00 +0000 http://reitips.com/?p=588#comment-149033 Hey, Awesome article as always!I have been visiting your blog from quite a long time and I must admit your articles are truly very helpful and informative. I am sure you will continue the same way. Hey, Awesome article as always!I have been visiting your blog from quite a long time and I must admit your articles are truly very helpful and informative. I am sure you will continue the same way.

]]> By: Shane O'Sullivan http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-521 Shane O'Sullivan Fri, 21 Nov 2008 03:33:32 +0000 http://reitips.com/?p=588#comment-521 In NC and VA if you are a licensed agent you have to tell them that you are. One way to get around this is to work with someone who isn't. I with with my mother how is a licensed agent, so I do all the calling and talking. That way you don't have to worry about it. I really don't think that it's a big deal if you are a agent and not say anything. Because at the time you are not working as a Real Estate agent, you are working as a Real Estate Investor. In NC and VA if you are a licensed agent you have to tell them that you are. One way to get around this is to work with someone who isn’t. I with with my mother how is a licensed agent, so I do all the calling and talking. That way you don’t have to worry about it. I really don’t think that it’s a big deal if you are a agent and not say anything. Because at the time you are not working as a Real Estate agent, you are working as a Real Estate Investor.

]]> By: Shane O'Sullivan http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-149032 Shane O'Sullivan Fri, 21 Nov 2008 03:33:00 +0000 http://reitips.com/?p=588#comment-149032 In NC and VA if you are a licensed agent you have to tell them that you are. One way to get around this is to work with someone who isn't. I with with my mother how is a licensed agent, so I do all the calling and talking. That way you don't have to worry about it. I really don't think that it's a big deal if you are a agent and not say anything. Because at the time you are not working as a Real Estate agent, you are working as a Real Estate Investor. In NC and VA if you are a licensed agent you have to tell them that you are. One way to get around this is to work with someone who isn’t. I with with my mother how is a licensed agent, so I do all the calling and talking. That way you don’t have to worry about it. I really don’t think that it’s a big deal if you are a agent and not say anything. Because at the time you are not working as a Real Estate agent, you are working as a Real Estate Investor.

]]> By: JP Moses http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-454 JP Moses Tue, 18 Nov 2008 14:05:19 +0000 http://reitips.com/?p=588#comment-454 <a href="#comment-453" rel="nofollow">@EV</a> - EV, first off, I assume by "purchase option agreement" you're talking about a regular old "option to purchase agreement". Seems like it to me, but correct me if you're talking about something else. I would see no reason to have to sign it in front of an attorney -- not any more than you need to have an attorney present to sign a regular purchase/sale contract. I mean, if someone needs to have their attorney present in order to feel comfortable signing, that's their business. But for me, I see no reason for it at all, and I've never had anyone ask it. The enforceability of the agreement has nothing to do with whether or not an attorney's present when they're signed. It has to do with whether or not the agreement is congruent with local laws, whether all parties understood what they were signing and weren't under duress or inebriated, etc. Some folks will go the extra mile to have contracts notarized, so the other party can't claim it wasn't really them that signed the documents. But personally I've never done that for anything that wasn't going to be recorded at the registar's office. It's a little over the top in my opinion. Hope that helps! ...jp @EV – EV, first off, I assume by “purchase option agreement” you’re talking about a regular old “option to purchase agreement”. Seems like it to me, but correct me if you’re talking about something else.

I would see no reason to have to sign it in front of an attorney — not any more than you need to have an attorney present to sign a regular purchase/sale contract.

I mean, if someone needs to have their attorney present in order to feel comfortable signing, that’s their business. But for me, I see no reason for it at all, and I’ve never had anyone ask it.

The enforceability of the agreement has nothing to do with whether or not an attorney’s present when they’re signed. It has to do with whether or not the agreement is congruent with local laws, whether all parties understood what they were signing and weren’t under duress or inebriated, etc.

Some folks will go the extra mile to have contracts notarized, so the other party can’t claim it wasn’t really them that signed the documents. But personally I’ve never done that for anything that wasn’t going to be recorded at the registar’s office. It’s a little over the top in my opinion.

Hope that helps!

…jp

]]> By: JP Moses http://reitips.com/should-real-estate-investors-agents-disclose/comment-page-1/#comment-149031 JP Moses Tue, 18 Nov 2008 14:05:00 +0000 http://reitips.com/?p=588#comment-149031 <a href="#comment-453" rel="nofollow">@EV</a> - EV, first off, I assume by "purchase option agreement" you're talking about a regular old "option to purchase agreement". Seems like it to me, but correct me if you're talking about something else. I would see no reason to have to sign it in front of an attorney -- not any more than you need to have an attorney present to sign a regular purchase/sale contract. I mean, if someone needs to have their attorney present in order to feel comfortable signing, that's their business. But for me, I see no reason for it at all, and I've never had anyone ask it. The enforceability of the agreement has nothing to do with whether or not an attorney's present when they're signed. It has to do with whether or not the agreement is congruent with local laws, whether all parties understood what they were signing and weren't under duress or inebriated, etc. Some folks will go the extra mile to have contracts notarized, so the other party can't claim it wasn't really them that signed the documents. But personally I've never done that for anything that wasn't going to be recorded at the registar's office. It's a little over the top in my opinion. Hope that helps! ...jp @EV – EV, first off, I assume by “purchase option agreement” you’re talking about a regular old “option to purchase agreement”. Seems like it to me, but correct me if you’re talking about something else.

I would see no reason to have to sign it in front of an attorney — not any more than you need to have an attorney present to sign a regular purchase/sale contract.

I mean, if someone needs to have their attorney present in order to feel comfortable signing, that’s their business. But for me, I see no reason for it at all, and I’ve never had anyone ask it.

The enforceability of the agreement has nothing to do with whether or not an attorney’s present when they’re signed. It has to do with whether or not the agreement is congruent with local laws, whether all parties understood what they were signing and weren’t under duress or inebriated, etc.

Some folks will go the extra mile to have contracts notarized, so the other party can’t claim it wasn’t really them that signed the documents. But personally I’ve never done that for anything that wasn’t going to be recorded at the registar’s office. It’s a little over the top in my opinion.

Hope that helps!

…jp

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