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Typical "finders fee" in the state of Texas


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#1 safly

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Posted 01 October 2007 - 11:42 AM

someone who brings a prospective buyer to a seller (listed/unlisted).

A "Marketer's Fee" was brought to my attention in which the marketer (not RE licensed) can curtail the Texas RE bylaws regarding the new "Finder's Fee" act recently passed by the state.

If a marketer can bring the buyer to a seller, where a certain MLS or listing from the seller's agent HAS NOT, then why not allow it?

Typical quote?

Which party pays for such a fee (buyer or seller)?

Liability issues?

Different for commercial or residential?

What is deemed a commercial or residential transaction?

Is this practice commonly used or accepted?

How does one seperate the "finders fee" bylaw issue from that of a "marketer's fee" (one who sets up RE marketing portfolios for certain BUYERS)in the state of Texas?

Do you think the Broker's Fee newly enacted bylaws are fair in these situations? (Where the state legislature passed a law stating that a Broker or Finder HAS to be a licensed RE agent or obtain a RE license in order for the seller or buyer to pay a fee, or to simply work.)

Your thoughts on this.
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#2 360texas

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Posted 03 October 2007 - 02:53 PM

Would not know. Might be a negotiated effort.

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#3 76107

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Posted 18 October 2007 - 04:56 PM

TREC, and Texas Occupations Codes, and about a thousand other things, specifically say that in order to collect a fee for representing someone in a real estate transaction, be it residential or commercial, an individual has to be either a licensed real estate agent or an attorney. Setting up a marketing portfolio is different. You're merely serving as an ad-agency. Presenting that information to the public, however, is different. You can't convey contracts, "work deals", or really do anything other than serve as a passive promotional vehicle/ad-agency. Maybe your friend has a way that I can practise law without a license too?

#4 safly

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Posted 18 October 2007 - 05:51 PM


^^Sure . Get in trouble, then represent yourself. Easy Cheesy. smilewinkgrin.gif

But, you should be able to "practice" law without a license. Just don't expect a judge to allow you to represent someone in their court.

But if you can make an attorney's job that much easier (paralegal), then by all means do it. Agreed legal contracts do take precedence???
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#5 76107

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Posted 22 October 2007 - 05:45 PM

QUOTE(safly @ Oct 18 2007, 06:51 PM) View Post

^^Sure . Get in trouble, then represent yourself. Easy Cheesy. smilewinkgrin.gif

But, you should be able to "practice" law without a license. Just don't expect a judge to allow you to represent someone in their court.

But if you can make an attorney's job that much easier (paralegal), then by all means do it. Agreed legal contracts do take precedence???


I don't know if you were trying to call me out for misspelling, but I would remind you that "practice" refers to the thing itself, while "practise" refers to the action of practising. Also, paralegals can't legally do things that require a law license.




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