DELAWARE LAWYER AS REAL ESTATE AGENT?

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Latest post 04-07-2009 2:28 PM by adjuster jack. 5 replies.
  • 04-06-2009 5:59 PM

    • zwhim1
      Lawyer
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    • Joined on 04-06-2009
    • PA
    • Posts 3

    DELAWARE LAWYER AS REAL ESTATE AGENT?

    Does anyone know if a DE licensed attorney can serve as a real estate agent in a residential transaction? I know it sounds crazy but my PA licensed realtor seems to think I can represent myself if I select a house in DE.

    Thanks!

  • 04-06-2009 7:17 PM In reply to

    Re: DELAWARE LAWYER AS REAL ESTATE AGENT?

    zwhim1:
    Does anyone know if a DE licensed attorney can serve as a real estate agent in a residential transaction?

    In what capacity? I can't imagine an attorney showing homes to prospective buyers, poring over MLS listings, or getting a sales commission.

    zwhim1:
    my PA licensed realtor seems to think I can represent myself if I select a house in DE.

    I don't see what that has to do with your first question about an attorney acting as a real estate agent.

    Maybe you should explain things a little better.

     

     

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
  • 04-06-2009 8:03 PM In reply to

    • zwhim1
      Lawyer
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    • Joined on 04-06-2009
    • PA
    • Posts 3

    Re: DELAWARE LAWYER AS REAL ESTATE AGENT?

    I am looking to buy a house. I have a realtor but she is only licensed in the state of PA. That is where I was looking at first bc i primarilly practice in PA. Now I am looking in DE. My realtor tells me that if I select a house in DE I can represent myself - meaning I would get the commission back - bc I am a DE licensed attorney.

  • 04-06-2009 10:57 PM In reply to

    Re: DELAWARE LAWYER AS REAL ESTATE AGENT?

    zwhim1:
    My realtor tells me that if I select a house in DE I can represent myself - meaning I would get the commission back - bc I am a DE licensed attorney.

    No, I don't think you would "get the commission back". As a DE licensed attorney, you should easily be able to look up the DE real estate licensing law and read up on kickbacks and paying commissions to those who are not licensed real estate agents or brokers.

    If a DE real estate broker sells a house to you for 500,000 and the commission is 7% (35,000), it's probably illegal for him to pay you 17,500 out of that commission.

    You could, however, offer 482,500, and if his seller doesn't like the offer, he's free to negotiate his commission down to 3.5% if that pleases the seller.

    You can negotiate a reduced price, but I'm guessing that the DE real estate statute would prevent you from getting any cash back out of the selling broker's commission.

    Read the DE real estate licensing statutes and tell me if I'm right.

    And if I'm right, then tell your PA realtor to go take a class in real estate law.

     

     

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
  • 04-06-2009 11:25 PM In reply to

    • zwhim1
      Lawyer
    • Not Ranked
    • Joined on 04-06-2009
    • PA
    • Posts 3

    Re: DELAWARE LAWYER AS REAL ESTATE AGENT?

    Thank u for the tutorial in negotiations/math 101 - however, that's not exactly what I was asking for. And FYI - westlaw and the A2nd don't exactly point to local real estate liscensing rules. Your condensending "know it all" attitude tells me you really must be a lawyer. Read a book and then come comment

  • 04-07-2009 2:28 PM In reply to

    Re: DELAWARE LAWYER AS REAL ESTATE AGENT?

    zwhim1:
    FYI - westlaw and the A2nd don't exactly point to local real estate liscensing rules.

    For future reference, here's two sources of state laws that'll be helpful if you ever want to look up stuff:

    http://www.findlaw.com...

    http://www.megalaw.com...

    zwhim1:
    Your condensending "know it all" attitude tells me you really must be a lawyer.
    I'll take "know it all" as a compliment but calling me a lawyer, that's a low blow. Ok

    Anyway, here's a link to the DE real estate broker/salesperson statute:

    http://delcode.delawar...

    I call your attention to Section 2906 - Certificate requirement.

    "(a) No person, partnership, association or corporation shall act as a real estate broker or real estate salesperson, or advertise or assume to act as such real estate broker or real estate salesperson without being registered and without a certificate of registration issued by the Commission."

    So, without a certificate, you would not be able to collect any part of a sales commission.

    You can certainly represent yourself in the transaction. But you would be your own attorney not the seller's attorney so you would not be entitled to collect any fees from the seller.

     

     

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
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