Can i pay my friends to market or sell my house for me in Florida? Can only Realtors receive commissions?
A realtor told me that only realtors can receive commissions in Florida. Is that true? Why couldn’t i incent someone or thank a friend who sends me a buyer? That does not seem right. Why would i be forced to ‘only’ work with a realtor when my own ‘warm market’ is pretty big?
The real estate profession is regulated by state law, so it’s illegal to earn a commission on a real estate sale if you are not licensed. Buying and selling real estate is a complicated legal matter and you must consider what would happen if either of you were sued for some reason – what’s your protection? It’s better to use a licensed real estate agent and negotiate the commission if that is what you want to do.
Having said that, however, there is nothing stopping you from giving your friend a gift of cash as a thank you for referring a buyer to you. The difference between giving a friend a cash gift and providing a commission on a home sale is how it’s accounted for by the IRS.
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