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I am licensed in California and Nevada. I live in Nevada and have my license with a Nevada brokerage. I have my California license hanging non-MLS-status with a company in Cali (San Diego).
I would like to make a home purchase myself in California, do I have to go through my Nevada broker or my California broker(my license on ice)?
Do I have to join the MLS realtor asso in california? ..i do not have access to California RE forms.
If I go through my Nevada broker (they are not licensed in California) will I get the California real estate commission>?
Basically, what I want to do is, go through whichever brokerage, but I don't want to pay the Realtor Association and MLS fees in California, if that can be avoided.
I am licensed in California and Nevada. I live in Nevada and have my license with a Nevada brokerage. I have my California license hanging non-MLS-status with a company in Cali (San Diego).
I would like to make a home purchase myself in California, do I have to go through my Nevada broker or my California broker(my license on ice)?
Do I have to join the MLS realtor asso in california? ..i do not have access to California RE forms.
If I go through my Nevada broker (they are not licensed in California) will I get the California real estate commission>?
Basically, what I want to do is, go through whichever brokerage, but I don't want to pay the Realtor Association and MLS fees in California, if that can be avoided.
Any answers or comments would be great.
I would call the California Association of Realtors and get the answer first hand.
My thought is that your California license is inactive so you could not do business in California without hanging your license with a CA broker and paying the appropriate dues.
In Florida, we can pay a referral fee to another brokerage (it always has to be paid to the brokerage or an attorney) but that person is not allowed to do business in the state...they can't come into the state to do business. Since you are considered a 'buyer' not a sales associate with regards to purchasing your own property, your agency can send you to another agency as a 'referral' and can be paid for it. There is no limit on the referral fee...so in essence it can be a full commission. I have no clue if it's the same in your state.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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You can use your NV license to purchase a property in CA. CA law permits the payment of commissions to licensees outside the state.
The question is why would you pay yourself a commission on a property you are buying? Subtract the amount of the commission due the selling agent from the offering price.
I understand since I am licensed in Cali that the commission can be paid to a licensee outside of Cali.
However, do I go through my broker in Nevada in a Nevada purchase agreement or do I go through my broker in Calif with a Calif purchase agreement (I dont have acess to the CA forms). And if I go through my nevada broker (that doesnt do business in Ca) is that a problem.
Looks like I will call the Realtor Assoc or the DRE.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Reputation: 6471
I'd go with the form in the state that the property is in. NV law doesn't freely translate to CA. The disclosure should be that you are licensed in both states. I still don't get why you would want to pay yourself a commission on a property you are buying.
In general "hanging license" Brokers can do a transaction. So you would do the transaction with your CA license.
The coop is another matter. That is an MLS contract and not offered to any RE Agent. You would likely have to negotiate a coop agreement with the listing broker on any proprty you wished to buy. Your CA broker likely knows all about this.
You can also use your NV broker as a basis for a referral and do it that way. You can get any referral amount that you negotiate with the listing broker. It is paid by the CA listing broker to your NV broker.
I am a broker lic. in Ca. I cought one of my realtors doing business under another company.As per dre I terminated this realtor and she had just closed a deal.Would i Be obligated to pay her commision on a this deal even thought she had another deal threw another broker.This all while under my Lic. she could have gotten me in trouble.
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OP-broker to broker
