Can a real estate agent accept money on the side for helping a friend buy a house
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Can a real estate agent accept money on the side for helping a friend buy a house
Asked on July 2, 2009 under Real Estate Law, Texas
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I'm not quite sure of what you mean "on the side". Since this is a friend it sounds as though the real estate agent works for a company but that this transaction is taking place outside of that relationship. If so, the realtor might well be putting their job at riskif this comes to light, not to mention possibly jeopardizing their license. If, on the other hand, this side money is in addition to a commission structure already in place then the above still holds true not to mention state law might well be broken.
Bottom line, I would't recommend it. Possibly you can put an anonymous call into the Texas Board of Realtors and get a more definitive answer.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I'm not quite sure of what you mean "on the side". Since this is a friend it sounds as though the real estate agent works for a company but that this transaction is taking place outside of that relationship. If so, the realtor might well be putting their job at riskif this comes to light, not to mention possibly jeopardizing their license. If, on the other hand, this side money is in addition to a commission structure already in place then the above still holds true not to mention state law might well be broken.
Bottom line, I would't recommend it. Possibly you can put an anonymous call into the Texas Board of Realtors and get a more definitive answer.
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