Offlinei recently called an agent in wisconsin and they told me it was illegal to assign contracts in wisconsin? Is this true? What do the laws stipulate here about assigning contracts?
__________________
assigning contracts in wisconsin
Posted on: Fri, 08/26/2011 - 02:46
Keep in mind Realtors do not understand a lot about assignments. They often feel that you are acting as a real estate agent. This is not true.
Realtors sell items they do not own - other peoples real estate properties. Because of this they need a license.
When you make an offer and do assignments you are selling items that you do own - the contract. You have equitable rights or equitable interest in the contract. This is what you are selling.
Here is a way to look at this. If you sell your own home do you need a license? No. If you sell your own car do you need a license? No.
However, if you sell my house or my car or my items you need a license. This is why there are Realtor licenses, dealership licenses and other licenses.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125