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My boyfriend and I currently flip houses. If I become a real estate agent can I close on houses for him or is there some sort of conflict of interest

We plan on getting married in the next couple years, will this make a difference? I understand there may be some grey area here but I am just curious because if it isnt legal or discouraged then I wouldn't bother getting my license. Would it make a difference if I were a broker as oppose to a sales agent? Thanks!
(0) | asked by: Danielle Marie | share | 4 months ago | Report
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answer by John Misina   |   Visit My Website   |   Contact Me
answered questions: 1
As long as you disclose your relationship and your status as a licensed agent or broker you'll be in good shape. Check your state laws to be sure.
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3 months ago  |   Report   |   share
answer by Mary Jo Bowe   |   Visit My Website   |   Contact Me
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Hello Danielle, I myself am a sale agent and also flip homes, like mentioned below just make sure and disclose you are a sales agent and good luck with the flipping homes
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answer by Shawn Kriewaldt   |   Visit My Website   |   Contact Me
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Disclose, disclose disclose and all will be fine... Also check into the regulations about how many properties (For Sale By Owner) that you can buy and/or sell before you are required to become licensed as an agent with the state (I do not mean as a Realtor). Good luck... Call me with any questions and I may be able to help further! Shawn
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answer by Kevin Monette   |   Visit My Website   |   Contact Me
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You only have to disclose that you are related to the owner of the property or you are an owner agent of the property. It does happen often, but as long as you disclose your interest as an agent, you will be fine. Also most state require you to be an agent for (X) amount of years before you can become a broker. Good luck.
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answer by Joyce Lowe ABR,CRS,GRI,CNS,Broker   |   Visit My Website   |   Contact Me
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Should not be a problem. Good luck.
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answer by John Armstrong   |   Visit My Website   |   Contact Me
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This may be different in different areas but the key is disclosure. Although if you are not principle in the transaction, meaning not the buyer or seller, you shouldn't have any issues.
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answer by Bill Baker   |   Visit My Website   |   Contact Me
answered questions: 2
Should not be a problem as long as there is full disclosure of the relationship . If you are an owner of a property your selling, or will be an owner in the property, you will again disclose that you are a "principle" in the transaction. There are benefits to being a Realtor, but keep in mind, that you are always a Realtor and you have Rules to follow, including Ethics. Good Luck, it you need added guidance in the process, you welcome to contact me.
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answer by Ron Tarvin, Broker 281-935-7152   |   Visit My Website   |   Contact Me
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No problem at all but here are a couple of things to remember: 1. you must disclose to all parties your interest/relationship to the transaction. 2. if you buy bank foreclosures to fix and flip, they will likely NOT pay a commission with you as the buyer's agent since you have interest in the property and you're following rule #1 above! 3. You'll end up saving the sell side commission when you list it yourself so that should make up for not getting commission on the buy side of foreclosures!
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answer by JoAnn Kane   |   Visit My Website   |   Contact Me
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No there is no problem. All licensees and brokers have duties and loyalties to sellers, so the fact that you have a relationship with him is not a problem but you still may want to disclose it. If you are part owner of the property you are selling, however, you must disclose you are a licensed real estate agent. If you are living at the property or you have done work on it, you should be very careful to disclose all defects, even if it's something that is gray-area. Good luck!
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answer by Michael Cheng   |   Visit My Website   |   Contact Me
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There wouldn't be a problem from real estate regulators, just as long as you disclose your relationship. And, if you're operating as a business, it would be much simpler and quicker to handle your own transactions if you were a broker instead of a salesperson. So, the only question is whether you'd make more money spending your time selling your flips or working on more flips.
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answer by Chris Thomas   |   Visit My Website   |   Contact Me
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That shouldn't be a problem if you disclose the fact you have a relationship with him. I know plenty of people who do that sort of thing.
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answer by Aiman Abozeid   |   Visit My Website   |   Contact Me
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I dont see any conflict from the lender point of view.
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