Are There Ethical Concerns Regarding Being A ... - Realtor.com

Q: I would like to start my own business finding sellers that have the potential to increase their asking price by making property improvements but have little cash on hand to do so, but have plenty of equity. I would begin by making ?eco? improvements, adding curb appeal and home technology systems as well as traditional interior design and just basic clean up. This would (hopefully) make the property sell faster, allow a higher asking price and be profitable for the seller and myself. my thought was to ask for 20-50% up front while waiting for the other half post sale, with a payment agreement contingency if the seller pulls it off the market.

When I was shopping for my current home so many of the houses could have been so much nicer and fetched a higher price with just a little work and thought.

Should I also get my RE license to have exposure to sellers and other agents? Are there any ethical conflicts to being a contractor and agent for the same property?

Any thoughts or suggestions?

Thanks
?Rob, Richmond, VA

A: I would see an attorney for the legal aspects of your idea. They are the only ones who can give legal advice and they may give you a thumbs up or a thumbs down.

Full disclosure is the key here. But see an attorney; agents do not (at least they are not supposed to) give legal advice.

Best of luck to you!
Jim Guido is a Realtor? with California Real Estate Internet Group in San Clemente. CA.

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Source: http://www.realtor.com/blogs/2012/08/09/are-there-ethical-concerns-regarding-being-a-contractor-and-an-agent-on-the-same-property/

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