Bobm1968, Home Seller in Florida Center, Orla...

Can a realtor buy a house under market value without letting the sellers know that he/she is a realtor. Then the realtor resells at a big profit?

Asked by Bobm1968, Florida Center, Orlando, FL Thu Nov 18, 2010

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I would think your State's Licensing Department would frown heavily on that. In our State we must disclose that we are licensed agents.

This comes down to protecting consumers from being preyed upon and this is exactly how this would be viewed.
0 votes Thank Flag Link Thu Nov 18, 2010
Hi Bob,

Ahh, now we see the reason for your other question. I won't repeat the advice that you got on the other question about where to complain in Florida as you already know it.

We are curious as to who was respresenting you in the original sale? If you could have sold it for a lot more money why did you accept the deal in the first place?
0 votes Thank Flag Link Thu Nov 18, 2010
I am not sure of the rules and regulations in FL, but in NY state, an agent must disclose his or her licensed status in every transaction. It goes so far as to disclose relationships when selling for a relative or significant of the licensed entity as well.

Penalties can include fines and run as far as license revocation.
0 votes Thank Flag Link Thu Nov 18, 2010
Not in the State of Maryland. It is against the law.
0 votes Thank Flag Link Thu Nov 18, 2010
In Wisconsin, an agent or broker MUST disclose that he is licensed as a Real Estate professional if he/she is a principal in the transaction. This disclosure must be made as early as first contact, but definately, in writing at the time of the offer.
0 votes Thank Flag Link Thu Nov 18, 2010
NO. a licensed agent or broker MUST disclose the fact that they are licensed on their offer. (at least they do here in NH) Please check with your state to see if they have the same law on the books, most do. A question though if you are a seller, would you have still sold it at that price to a an investor without a license that was going to resell it? Did the buyer force you to sell?
0 votes Thank Flag Link Thu Nov 18, 2010
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