Monday, July 2, 2012

A Real Estate Idea Worth $12500

     At a recent broker class at Climer School of Real Estate, I had a student introduce himself by telling the class that at the last class he took at Climer School of Real Estate, he gleaned an idea that was worth $12,500 in one commission to him.  He said he could not wait to get back to another class with the "idea man", Andy Brown.

     Nobody in the room was more anxious to hear this than me.  He told us that at my 45 hour post license class, I had suggested that after March 31st or September 30th ( that is the day Florida real estate licenses expire), he check with the DBPR's website at to see if perhaps his co operating broker had let his Florida real estate license expire.  If he found one that did not have a proper current active license, don't pay them.  Yep, just keep their half of the commission.

     I had suggested that.  One of my pet peeves is people that don't have a Florida real estate license at all out there acting like they do and getting half of a commission.  That is how this got started.  Many people forget to renew their Florida real estate license with the Department of Business and Professionial Regulation.  If you are co oping a transaction with someone that does not have a proper license, just keep their half of the commission. You would be violating Florida real estate law if you did pay half the commission to an unlicensed person or a real estate company that has as an employee that is not properly licensed through the Department of Business and Professionial Regulation.

     So my student said after  the 45 hour post license class, he started to check on DBPR's website every co op agent that brought an offer on his listing.  It wasn't long before he hit a winner( or loser depending upon your point of view).  His co operating agent had been involentary inactive for fourteen months when he made brought in a contract on my student's listing.  The commission was $25000.  My student instructed the closing agent to pay the commision entirely to my student's company.  He worked for one of those 100% companies.  He got the entire $12500 and the other agent got a very expensive seminar.  Keep your Florida real estate license current and active.

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