If you wish to sell real estate, you could be either:
1. The property owner or
2. A middleman
Now, if you fall under the category of the property owner, that means you wish to sell your real estate and have hired no third party. In this scenario, you would not be getting or giving any ‘fee’ to anyone. Thus, for selling your property you would not need any license whatsoever. You can get in contact with potential buyers, get done with the necessary paperwork and if everything falls into place, sell your real estate.
Selling Real Estate Without License?
Things are a little different when you are selling someone else’s property. If you sell real estate that is not yours and is charging a particular fee, commission, or profit as a middleman, you must get an official license to do so. By taking a fee in this scenario you become the property broker, real estate agent, or salesperson. A contract or a legal agreement would be in place and that would need a license.
But, the licensing procedure may differ from country to country or even state to state. In most of the states of the United States, it is illegal to sell someone else’s property for a fee. In some states, you would have to complete the least level of estate educational requirements to get a legal license. While in other the paperwork is easier as compared to the ones mentioned before. Only after getting a license would you be able to practice being a real estate agent under the law and charge a fee or commission if you ever sell a property. If you act as a broker without any license, you would commit a crime by practicing real estate without a license.
The other scenario could be you helping to sell someone else’s real estate without any fee or commission. For instance, you help your friend to sell his apartment but you do not ask them to pay you in exchange for your help. In this situation, you would not be requiring any license as there’s no profit or legal agreement involved from your side.
Still, if you ever wish to sell your real estate, it is advisable to hire a broker, agent, or salesperson for the same. This way you would save yourself from making any mistakes. You would not have to worry about the legal formalities. This will also make your work much easier than selling it all by yourself. A real estate agent can help you find the right type of buyers and keep up the prices of your property upgraded to the recent market prices. This way you can get professional help to close the best deal possible and would make your job way lighter.
If you wish to become a real estate agent, always consult your lawyer for the same. The law related to real estate differs from country to country and even state to state. It is always wise to know the laws in your area of work and proceed ahead with all the right information.
