We are consultants who get hired by Realtors to process and negotiate short sales for them. Although we are a licensed mortgage company, we do not have a real estate license. We have not figured out how to get access to Equator. It appears you have to have a real estate license or be a lawyer. Are we looking at this correctly? Are we missing something?
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Equator will ask for your real estate license number.
You better stop any negotiations you're currently involved in & get a real estate license or you're going to open yourself up to a lawsuit.
As other have said, you need to be a Licensed Broker / Agent in your State to get access to Equator.
More importantly, to negotiate Short Sales (in California at least) you MUST be licensed in good standing with the DRE. To work with most banks, you must also have E&O insurance covering you as a Real Estate Broker.
Best of luck!
Thom Colby
Broker / Negotiator
Newport Beach CA
Equator will ask for your real estate license number.
You better stop any negotiations you're currently involved in & get a real estate license or you're going to open yourself up to a lawsuit.
OK guys. Be sure to check you State's laws. Not all States require a real estate license to negotiate short sales. There are many 3rd party negotiators that are perfectly legit and good at what they do. Now getting a deal into Equator is a different story. I believe they do require you to be licensed to be a member of equator although I could be wrong.
BofA absolutely allows for 3rd party negotiators, who are licensed Brokers in their state, with E&O coverage, and with the authorization of the seller / borrower, to initiate and negotiate short sales on behalf of Listing Agents. I have done MANY of them for Listing Agents / Brokers throughout California.
Best,
Thom Colby
Broker / Negotiator
Newport Beach CA
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