It always amazes me how many times I hear from random individuals that they have a "real property" to sell and they are looking for a buyer, and then to be compensated. When questioned they will respond I am not acting as a real estate broker but a "consultant".
If it were that easy then why have I been paying all the real estate dues to the New Jersey Real Estate Commission and the New York Department of State? Why not just cloak myself as a "consultant" and save thousands of dollars. I wouldn't have to worry about all the red tape of the regulatory system set up to keep buyers safe and only worry about getting a pay check.
COMPENSATION OF A SALESPERSON: RESTRICTIONS-NO REAL ESTATE SALESPERSON IN ANY PLACE IN WHICH THIS ARTICLE IS APPLICABLE SHALL RECEIVE OR DEMAND COMPENSATION OF ANY KIND FROM ANY PERSON, OTHER THAN A DULY LICENSED REAL ESTATE BROKER WITH WHOM HE ASSOCIATED, FOR ANY SERVICE RENDERED OR WORK DONE BY SUCH SALESPERSON IN THE APPRAISING, BUYING, SELLING, EXCHANGING, LEASING, RENTING OR NEGOTIATING OF A LOAN UPON ANY REAL ESTATE
The law seems fairly simple but everyday unlicensed individuals are attempting to get paid on a real estate transaction where they are unlicensed.
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