Can I Get Into Legal Trouble If I...
Howdy everyone!
I'm getting ready to purchase my first yard signs to get the phones ringing. I am having 100 signs printed that say, "We Buy Houses...Fast. Call Tim! (270) 331-6204" I'm also having another 100 printed that say "We Can Sell Your House in "9" Days. Call Tim! (270) 331-6204." I decided to do this message because it was recommended in the "signs" portion of another real estate investors website. ( ****Must Reach Freshman Investor status before posting URL's*** )But here's my question...
Can't I get in trouble if I announce I'm "selling" houses? I was under the impression that I could get in legal trouble since i'm not a real estate agent..for "selling" houses. I assumed going into this that I could only let the sellers know I was interested in buying their house myself to later sell it...
Can I get into any trouble for posting signs that say I can "sell" your house?
I apoligize for any stupid questions, but i'm willing to learn, and I see the potential to change my life!
Thanks for any help!
Catfish
Youaren't a licensed real estate broker, either. And that what it takes to be able to advertise "we can sell your house..."
My guess is that you'll have the real estate commission knocking on your door... and you'll end up with 100 signs cluttering your garage.
Yes, short sale pro is right. you have to make sure your marketing materials are making your phone ring, but at the same time worded in a way that you are an investor, and not a house salesperson, because house salespeople are realtors and need licenses (not that getting a license is very hard, from what I have heard at my own investor meetings)
With that said, your sole intention as an investor is to make a profit for your own company. Some people say people who assign purchase and sale agreements, or option agreements are brokering without a license, but it is not true. In those cases, you have a contractual interest in the properties, and you are a principal in the transaction, two things that realtors never have.
It is a grey area for sure, so do some thinking about it and continue to ask questions.
But putting bandit signs saying you sell houses is just asking for realtors and the board to harrass you. Best, Dave
If you have an option on the properties you are selling you can't get in trouble. You should get some legal advise from a real estate attorney before you make up all of those signs. GOOD LUCK
One more thing. In my neck of the woods, a sign saying you sell houses would not only have the real estate commission harrassing you, but levying hefty fines to the tune of $1000 per offense. Lemme see $1000 x 100 signs...(counting on my fingers)
If you have a financial interest in a property then you can market the property www.yourself.In most states you need a RE Brokers license to sell a www.property.Most states have exceptions for attorneys who handle estates and principals in home building companies.
try the signs that say "Sell your home in 9 days" or "sell your home fast." That should bring in alot of calls for you.