Earlier this week I was “thrilled” to discover I had to drive to Nashville to personally attend a 2-day meeting of the Tennessee Real Estate Commission.
Fully expecting to be bored to tears, I was pleasantly surprised to find that eavesdropping on the commission contending with a month’s worth of real estate business is actually pretty darn fascinating.
So at the very end of the second day, I actually had the chance to address the commission personally. I used the opportunity to pose a controversial issue that’s been burning a hole in my brain for years now:
“Can I legally pay a ‘finder’s fee’ to an unlicensed person for referring a real estate deal? What about an ‘assignment fee’? And what about two contracts with a double closing?”
Ok yeah, technically that’s three questions.
But the answer(s) I received might just surprise you. It certainly reminded of an important lesson every real estate investor should learn.
So here’s a short video I made for you (from downtown Nashville) outlining what happened and the very important takeaway lesson…
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