Selling Real Estate without a License?

Question: A friend of mine -- honest, I'm not talking about my house -- asked me to put her house up for sale on the Internet, twice, and I got a few interested people but nothing serious. She has asked me again to do the same. She lives in a gated resort community and wants $350,000.

I just thought you might have some creative ideals for selling this house. She's going to give me $10,000 if I can sell it and I need the money. I'm also thinking of advertising in a magazine. What do you think?

Answer: I think you're doing a terrible disservice to your friend, and I think you should also look at the real estate laws in your jurisdiction. They will no doubt say that without a real estate broker's license you have no ability to sue for a real estate commission -- thus if you sell the property your friend is not obligated to pay you a dime.

Your friend may well be trying to help you, or may honestly think that you have a skill which would allow you to sell the property. But what do you know about real estate contracts? Seller disclosures? Complete Internet exposure? Fair housing requirements? Financing? Pricing? Seller contributions?

The list goes on, but the point is this: There's a lot more to selling real estate than advertising. Without a broker's license you do not have the right to collect a fee from another for the sale of a property. Worse, you might sell the property for less than it's worth or you may create unintended liabilities that cost your friend huge amounts of money. Go no further with this until you have spoken with a local -- and licensed -- attorney.