Can i be both the real estste agent and the mortgage officer on the same deal?
Written By: admin on December 12, 2009
3 Comments
The mortgage company i have been refering has given me the option to do be a motgage officer for them and make commission of the loans as well as my commission on my sales. Can i do this?
Related Posts
Tags: loans, mortgage company, refering
It depends on the laws in your state. In Illinois you cannot be anything but the Realtor. While many people are both Realtors and Attorneys or home inspectors and so on and so forth, you can only be one of those in a transaction. Pick the one that will either pay you the most or you do they best because you might be going to jail if you do both.
YES: Can you do it without cheating someone just so you can get paid? This is the reason that these tasks are separated in the beginning.
Legally yes. But you will be walking a fine line, and its one i would not want to fall off of. You are opening yourself up to a law suit heaven.
RE Agent,
Remax