Question by pixie_vixen117: MO real estate agent question: How much can I help my mom with property not acting as an agent?
I am a licensed real estate agent that is still active in the state of Missouri, but not currently working in real estate. My license is being held by a broker, but I am not actively working at the moment. My mom wants to sell some property that she has which the houses on them are in terrible shape. She is not expecting a huge return on the property and is just planning on selling without use of a real estate agent. How much help am I legally allowed to give her if I am no expecting a commission at all? Can I answer questions about the process and the property to potential buyers?
We just want her to advertise for sale by owner. The properties are in terrible condition and she is pretty sure a real estate agent would not want to sell it as is. She is not expecting huge returns, she just wants rid of the property. So no pushing for her to work with a real estate agent (even me, since it would be too much trouble for me to get back into the game since I am going back to school).
I would appreciate it if people who actually knew the laws and were not just guessing would answer. I would like serious answers only please.
I have no problem disclosing I am an agent actually. Would that be enough as long s I did not get invovled in legal issues and only answered questions?
I really cannot talk to my broker about it and that is a long story. Nothing illegal, it is just that I really do not work for him, he is literally just holding my license for me since my previous broker could not just hold it and not make me pay fees.
Answer by godged
Talk to your principal broker to see if you can represent her in this transaction without compensation.
Be careful how you proceed here. If you advise mom on how to conduct this transaction and the buyer finds out, you may find yourself in trouble with your state regulatory agency. Either be in it or out of it, don’t go part way into this transaction. It would be in her best interest to disclose that her daughter is a MO licensed Realtor, just in case.
What do you think? Answer below!