MD Real Estate Comm. answer for negotiating short sales without license. Yes in my situation
The buyer is a real estate investor, handling his own purchase contract, and paying cash, no loan is involved. He would like me to negotiate with the bank. The seller is already my client. The answer is yes, as long as the buyer is filing out the purchase agreement himself. I had a real estate salesperson license in California for 10 years, but now reside in Oklahoma. My client base through referrals has spread all over the US. Equator stopped me in my tracks. Does anyone know how to get around the equator issue? It’s a little difficult to get licenses in all 50 states. An agent at Equator told me to check the attorney box. Big problem. I’m not an attorney.
Replies to This Discussion
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Permalink Reply by Cameron Piper - Keller Williams on
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What question are you trying to "get around"?
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Permalink Reply by Lisa Marx on
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I am new to this website. I just replied to myself. OOPS. Please disregard.
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Lisa,
It really sounds like the system only allows you two options. Commit intentional misrepresentation to Equator or get an MD real estate license. Do I understand your post to say that MD does not require a real estate license to negotiate a short sale on a property in that state?
Consider also that this might be a B of A requirement. They may only want licensed real estate agents or attorneys in the jurisdictions where the property is located working on B of A short sales.
Cameron Piper
Coldwell Banker Burnet
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thanks Cameron. This is why I am doing my research. I would NEVER misrepresent myself. If I have to get a license in MD, then that is what I will do. There is a reason I have been on the internet researching this for hours. I appreciate this website.
Cameron Piper said:
Lisa,
It really sounds like the system only allows you two options. Commit intentional misrepresentation to Equator or get an MD real estate license. Do I understand your post to say that MD does not require a real estate license to negotiate a short sale on a property in that state?
Consider also that this might be a B of A requirement. They may only want licensed real estate agents or attorneys in the jurisdictions where the property is located working on B of A short sales.
Cameron Piper
Coldwell Banker Burnet
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Cameron, regarding the license question in MD., only in my situation where the buyer is handling his own contract. He only wants me to negotiate. It's also a cash transaction. No new loans involved. I am just relaying what the Real Estate Commission told me. They double and triple checked with different people in the office. Boy, I opened a can of worms. It was a lot easier when I lived and was licensed in CA. And I am well aware of the CA laws.
Lisa Marx said:
thanks Cameron. This is why I am doing my research. I would NEVER misrepresent myself. If I have to get a license in MD, then that is what I will do. There is a reason I have been on the internet researching this for hours. I appreciate this website.
Cameron Piper said:
Lisa,
It really sounds like the system only allows you two options. Commit intentional misrepresentation to Equator or get an MD real estate license. Do I understand your post to say that MD does not require a real estate license to negotiate a short sale on a property in that state?
Consider also that this might be a B of A requirement. They may only want licensed real estate agents or attorneys in the jurisdictions where the property is located working on B of A short sales.
Cameron Piper
Coldwell Banker Burnet
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Permalink Reply by Smitty on
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I still don't get the question. Are you asking how to negotiate in another state through equator? Is there an issue? We've done it without an issue...
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Hi Smitty: I am not licensed in the State of Maryland where I would like to negotiate the short sale.
:I still don't get the question. Are you asking how to negotiate in another state through equator? Is there an issue? We've done it without an issue...
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I'm based in Oklahoma becasue I was accepted to The University of Oklahoma, College of Meteorology. This is my 3rd year in school. I'm going to do some business after finals in three weeks. I've been out of the market bascically since I left CA FOR SCHOOL!!!!!!!!! This house is being sold by the mother of a long time client from CA. I would appreciate it if you would stay out of this.
Harry Clay said:Smitty said:
I still don't get the question.
Seemingly, a person with clients "all over the U.S.", who previously had a RE license in California, but is now based in Oklahoma...
...is looking for ways to "get around the issue" of licensing requirements in Maryland, or any other of the 50 states.
What's so complicated about that? lol
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Lisa, ignore Harry. I guess it's better to be flip than try to help.
Call into the short sale department at BOA (I'm assuming BOA?) I've only done this with BOA .. tell them you need them to MANUALLY initiate the short sale. They will manually initiate and then you can negotiate from their.
(Provided that Maryland doesn't have some law about being licensed in that state to negotiate..you should be fine)
Is that what you meant? I hope I understood.
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Thanks you so much, Smitty. MD is fine with it. B of A said they were fine with it. Equator said they were fine with it. Is Harry always this disturbing? Holy Cow, I'm worn out. lol
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