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11-10-2005, 07:54 PM
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leasing out a license
Has anyone heard of this crazy idea?
I just received my license a couple of weeks ago and I have been looking for part time work. My friend's sister-in-law works at a mortgage company and she told me I can lease out my license, she said people pay up to 10% of their commision if you allow them to 'use' your license. Now, I know that this must be illegal or wrong or something, but does this type of thing really go on? I did not believe her, but I have to admit I was intrigued by the comment. 
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11-11-2005, 01:23 AM
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Re: leasing out a license
A crazy idea to say the least. Don't know what state your in, but here in Florida (and I'd bet just about every other state) its not only a loose your license proposition but a criminal offense as well to practice real estate without a license. I wont even go into Respa, kickbacks etc that could come into play also. I'm not surpirsed a mortgage company is somehow involved though. I've been a federally licensed mortgage banker for 15+ years and it never ceases to amaze me what some folks in one of my chosen professions are always trying to do.
__________________
Benjamin Dona, Broker/Owner Gulf Coast Associates, Realtors Metro Mortgage Company Bonita Springs Real Estate | Florida Home Loans | Naples Real Estate
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11-22-2005, 11:23 AM
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Re: leasing out a license
I know in California there's something like that but it works like this:
You have a broker's license and relationships with a lot of lenders. Some loan officer or real estate agent with only an agent's license can use you and pay out as low as 5% of their commission. Look in the back of your realtor mag in the ads section sometime.
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11-22-2005, 11:35 AM
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Re: leasing out a license
Hi Tim,
Thank you for the CA reference. Do you know where I can learn more about this? Thank you, Peter
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11-22-2005, 11:49 AM
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Re: leasing out a license
well theres this company that does it:
http://www.independentrealtor.com/ Although I'd much rather pay a little more out of my commission and go with keller williams.
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