Q: Can a seller in the State of Florida pay an international real estate broker from Venezuela that has brought the buyer and show that split commission on the HUD 1 statement?
If not, how can you split commissions with a foregin international broker?
?Meg, Miami, FL
A: This is a question to bring to the National Association of Realtors and/or the Florida Association of Realtors. I also suggesting checking with the Flrorida State Department of Real Estate to see what the law says.
I know for sure that Realtors in California, where I?m licensed, cannot give a referral fee or commission split to any unlicensed person. However, I also know that I am not required to have a special real estate license to sell international properties. I would think that in this case, the Venezuelan real estate broker could only earn a commission if licensed to REPRESENT BUYERS IN FLORIDA because Florida requires a law degree or real estate license to represent a buyer.
This is a great question! I?m curious to know if there is a special exception for international real estate professionals. I?m so curious that I?m actually on hold with FREC right now to find out the answer.
Okay, the FREC said that anyone representing someone in a Florida real estate transaction, must have a license. Therefore paying a commission/fee to an unlicensed person is an illegal act. You can get further information by speaking to someone at the Florida Real Estate Commission?s Legal Hotline. The hotline number is not posted on their website; the agent gave it to me verbally and I have it written down if you are able to track me down!
Check out the Florida Real Estate Commission (FREC), which is headquartered in Orlando, FL. Unfortunately, this website does not allow me to provide you with any contact information, but you can quickly find FREC online, where they list their phone number? then ask for the Legal Hotline number if you want to verify this information yourself.
DeniseTheRealtor CA DRE Lic No 01481788
Denise Shur is a Realtor? with 1:1 Realty in San Jose, CA.
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