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11-12-2009, 11:48 AM #1
Renter
- Join Date
- Nov 2009
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Inoperative License
Hello, I became a real estate agent in June 2007 - April 2009. I was a part time agent and was an investor as well. In April, I removed my license from my brokers office and although I have completed my continuing education, I am not currently practicing as an agent (or have my license hung at an office).
Recently, I met a local investor who has homes available at wholesale prices. He asked if I can help him move these properties through word of mouth, etc. Can I do this legally or am I unable to help him in this manner due to the fact that I am licensed? I am in Illinois. Any thoughts, advice or comments are welcome.
Thank you in advance.
FJ
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11-29-2009, 05:48 PM #2
Renter
- Join Date
- Nov 2009
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- 7
Hmm. Very good question. I know here (Louisiana) you can be sanctioned and fined if your license has expired and you're still acting in the capacity of an agent.
I think perhaps just mentioning a friend that has investment property would be OK since you'd have no interest in the transaction, but if you actually write a contract or receive any $ for the referral (even if he doesn't call it a commission per se), you'd should reactivate your license. Just my thoughts. Your best bet would probably be emailing your state's licensing commission (so you have their response in writing).
Sandra
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