Q: My neighbor wants to sell their home, but doesn’t want to use a realtor. I have a lot of friends who are investors that would be interested. Can I help them find a buyer and get a finder’s fee?
A: While the term “finder’s fee” sounds innocent, it is more likely that you are engaging in the business of real estate. This is prohibited by Arizona law unless you have a real estate license. If you are engaging in the practice of helping someone sell real property, it is likely activity regulated by the Department of Real Estate unless you fit within an exception. There are certain exceptions to the licensing requirement, such as when you are dealing with your own property. (See A.R.S. § 32-2121(a) for other exceptions.) However, when you are talking about helping another person sell their property for a fee and you are not a party to the contract, you are likely engaged in the unlicensed real estate.
Mark B. Zinman, Attorney
Information contained in this article is for informational purposes only and should not be considered legal advice. You should always contact an attorney for legal advice and not rely on information published here.