This post will serve to gather a list of all the states that require a real estate license to negotiate short sales.
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"Only real estate licensees, California lawyers acting as lawyers and investors acting on their own behalf can engage in short sale negotiations." would apply to investors who are Short-Sellers not actually to investors who are Buyers negotiating a Seller's short sale (like a Broker) unless of course they are licensed by the DRE and authorized by Seller / Borrower to speak with their lender on their behalf.
Just my .02,,,,,,
Smitty said:
Rod, that's not "entirely" true:
"Only real estate licensees, California lawyers acting as lawyers and investors acting on their own behalf can engage in short sale negotiations. "
http://www.dre.ca.gov/pdf_docs/pr/DRENewsRelease_092910.pdf
Lawyers and investors acting on their own behalf can negotiate.
Cameron/Bryant,
I think it's important that anyone who responds to this put the LAW that corresponds to their association guidelines. Guidelines aren't necessarily law. My association can publish general rules, however it may not be a law in my state. Simply putting Realtor guides doesn't seem to be enough. For instance, our association strongly SUGGESTS Realtors NOT negotiate on a homoewner's behalf, however many, many Realtors do as it's not a LAW. The actual law in my state states anyone can negotiate a short sale.
That's interesting Thom. That's not how I interpreted it at all.
Which brings up a GREAT point...this is open to interpretation.
The way I read it, an investor, who buys a short sale can negotiate on their own behalf. It doesn't specifically state an investor that SELLS a short sale. AND it doesn't state an investor who BUYS a short sale...
Interesting...to say the least.
Thom Colby said:
I think the excerpt:"Only real estate licensees, California lawyers acting as lawyers and investors acting on their own behalf can engage in short sale negotiations." would apply to investors who are Short-Sellers not actually to investors who are Buyers negotiating a Seller's short sale (like a Broker) unless of course they are licensed by the DRE and authorized by Seller / Borrower to speak with their lender on their behalf.
Just my .02,,,,,,
Smitty said:Rod, that's not "entirely" true:
"Only real estate licensees, California lawyers acting as lawyers and investors acting on their own behalf can engage in short sale negotiations. "
http://www.dre.ca.gov/pdf_docs/pr/DRENewsRelease_092910.pdf
Lawyers and investors acting on their own behalf can negotiate.
Rod, that's not "entirely" true:
"Only real estate licensees, California lawyers acting as lawyers and investors acting on their own behalf can engage in short sale negotiations. "
http://www.dre.ca.gov/pdf_docs/pr/DRENewsRelease_092910.pdf
Lawyers and investors acting on their own behalf can negotiate.
Smitty,
The law was stated and a link provided in my original reply to this message.
Cameron Piper
Coldwell Banker Burnet
Smitty said:
Cameron/Bryant,
I think it's important that anyone who responds to this put the LAW that corresponds to their association guidelines. Guidelines aren't necessarily law. My association can publish general rules, however it may not be a law in my state. Simply putting Realtor guides doesn't seem to be enough. For instance, our association strongly SUGGESTS Realtors NOT negotiate on a homoewner's behalf, however many, many Realtors do as it's not a LAW. The actual law in my state states anyone can negotiate a short sale.
I know Connecticut and CA require attorneys to do negotiations, but, it is my understanding ANYONE can work with an agent, but, licensing is required for those persons taht actually speak to banks.....love to see what everyone posts on this.
Attorneys and 3rd party negotiators who are licensed by the mortgage lending division can also negotiate short sales.
Real estate agents can negotiate short sales only if they are involved as an agent in the transaction, (not as a 3rd party negotiator.)
Assembly Bill 152 which modified NRS Chapter 645F
http://www.leg.state.nv.us/75th2009/Bills/AB/AB152_EN.pdf
Terri White said:
Mark E. Wilson said:Nevada is required to have a State Real Estate Licence NRS: 645.
Mark - I have been looking for exact language of the law; do you have the sub-number under 645? thanks much
Nevada does not require a real estate license to negotiate short sales. NRS 645F is where you will find the authorized list, which includes many different types of professions, not all of which may be otherwise licensed by a different entity. It depends on who the employer is. Example 1- an escrow agent may negotiate, and they are obviously licensed. Example 2- an employee of a non-profit housing assistance entity does not need any type of licensing can negotiate. Employees of modification licensed entities do not need to be individually licensed either.
Nevada licensed real estate agents are exempt from mortgage division requirements as long as their activities are real estate related and not for the purpose of obtaining a modification.
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