Some buyers and sellers may not realize that brokers aren’t alone.
State law allows lawyers to collect commissions — without having a real estate license — though they cannot employ other salespersons to work under them unless they do obtain a license.
However, lawyers may not automatically charge a commission. They must have a signed agreement with whomever they are representing or an agreement with the listing broker.
At the same time, lawyers may not double dip. It is a conflict of interest for a lawyer to act as both attorney and real estate broker in the same transaction.
Interestingly, Continue reading