How Do I Make Money From Selling Listed Property?
Most commercial property is listed with various licensed brokers so my question is how to I make money as an unlicensed investor? For example I know of someone who purchases 5mil+ NNN leasebacks but the first question the agent has is "are you a principal or broker"? Can you have an option agreement for commercial property? contract assignment? Thanks in advance...
I think the issue here is that you have to become a principal in the deal to be involved unless you have a real estate license. This means you have to get it under contract in your name before you can assign the deal to someone else. Work it out with your investor first, then make that offer on an assignable contract and sign it over to the investor for your previously agreed upon profit.
If you are not a principal in the deal; generally with some money involved, then you are practicing real estate sales without a license. If you think this is a free market economy, where you can just buy, sell, and middle anything you want for whatever you can get, you are living in some kind of dream of the distant past.
Chris
I have the exact same question. Does anyone have an answer to that?
From stockpile of needles to someone’s software you can option just about anything. Valuable consideration is more often then not necessary to have an executable deal but you can also use a promise of some kind, if the seller accepts it. Gates made his fortune doing that with DOS.
Need a contract, Google “Real Estate Option Agreement” and you are ready to roll. However, the devil is in the detail and before you learn the hard way how much the non performance may cost you, I suggest you stop looking for shortcuts, get the pile of books and start reading. Getting Salesman Real Estate license is also not a bad idea if you think you can sell. And once you have reach that level NO one stops you to play principle in any deal.