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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Finder's fee authority.... Posted by Ward-CA- on September 17, 2003 at 7:19 PM In Reply to: Re: Finder's fee... posted by David f on September 17, 2003 at 9:50 AM : You say, "In CA, for merely introducing A to B you can legally charge a finder?s fee. It?s only when you negotiate the terms of a real estate transaction on behalf of another that the state requires you to hold a real estate license." : One of the mortgage brokers that I am sending a deal to says that in merely introducing her to a prospective borrow and then getting paid a flat fee out of escrow puts me in the role of broker. Thus, she says I can't get a finders fee b/c I am not licensed. Can you point me to the law or regulation that will prove her otherwise? : Thanks, : David =-=-=-=-=-=-=-=-=- David, Unfortunately the law in this area isn't so neat as to just involve one law or one case. There are many cases and several laws. There's an excellent 6 page article on the topic, "Finders exempt from DRE licensing", in the December 1992 issue of first tuesday's real estate journal, pages 15 thru 20. Call first tuesday in Riverside, CA @ 909-781-7300 and see if you can get a reprint. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : You say, "In CA, for merely introducing A to B you can legally charge a finder?s fee. It?s only when you negotiate the terms of a real estate transaction on behalf of another that the state requires you to hold a real estate license." : : One of the mortgage brokers that I am sending a deal to says that in merely introducing her to a prospective borrow and then getting paid a flat fee out of escrow puts me in the role of broker. Thus, she says I can't get a finders fee b/c I am not licensed. Can you point me to the law or regulation that will prove her otherwise? : : Thanks, : : David : =-=-=-=-=-=-=-=-=- : David, : Unfortunately the law in this area isn't so neat as to just involve one law or one case. There are many cases and several laws. : There's an excellent 6 page article on the topic, "Finders exempt from DRE licensing", in the December 1992 issue of first tuesday's real estate journal, pages 15 thru 20. : Call first tuesday in Riverside, CA @ 909-781-7300 and see if you can get a reprint. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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