Does running an apartment-locating business require a real estate license?
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Does running an apartment-locating business require a real estate license?
I am defining apartment locating as providing advertising for an apartment complex and receiving compensation e.g. 50% of 1st month’s rent when a renter signs a contract with the complex and lists the apartment locating business as how they heard of the complex. So, no negotiation and only being paid for bringing 2 parties together and only being paid after the transaction is initiated between them.
Asked on November 19, 2012 under Real Estate Law, Illinois
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under the laws of all states in this country so long as the business that you intend to do constitutes only locating rentals but not leasing units then you do not need a real estate license. I suggest that your contract for services rendered clearly states the above to limit any improper practicing of real estate without a license.
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