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Finally, there is some consensus on keeping unlicensed individuals from practicing real estate in the short sale arena, an unfortunate and increasing practice in our industry.
I can understand that there are unlicensed individuals that may "process" short sales effectively, but these unlicensed individuals are practicing real estate without a license when they literally negotiate the sale with the Lenders and literally draw contract addendums as part of the process. To say, it is ok to negotiate real estate because you have the experience in "processing" a short sale is clearly outside the laws in Florida, and if caught they are likely to be charged in a felony, but it keeps happening. And, for those real estate licensees that allow unlicensed individuals to gain their access through Equator as if it they were them, you are committing unethical conduct and likely not worthy of a real estate license.
For those Lenders that are starting to crack down on unlicensed activity, you are applauded and our industry should support this initiative and weed out the scofflaws. Any real estate licensee that cannot separate "processing" paperwork and "negotiating" in a real estate short sale transaction may not be worthy of a real estate license. I am sure a real estate licensee can use a good "processor" of short sales, to assist them in the short sale paperwork, but you must understand the limits of an "unlicensed" assistant, and negotiating is not something they can do!
Alejandro (Alex) J. Morin
Broker / REALTOR(R)
There is already a HUGE discussion on this site pertaining to this subject: http://shortsalesuperstars.com/forum/topics/bank-of-america-s-polic...
I also think any lawyer would argue you are practicing outside of the scope of your real estate license if you negotiate short sale contracts. Short sale negotiation is not "practicing real estate" - It should have completely separate licensure. Most E/O do not specifically cover short sale negotiations.