Legal Question in Real Estate Law in Georgia
Compensation for non licensed person in a real estate transaction
I joined an investment group that owns 5 houses in Georgia. One member is a stay at home housewife and she collects the rent, makes deposits, etc for the group. She wants 5% of the gross rents as compensation for her efforts. She does not have a real estate license or property management certification. She does she intend to get certified either. It is my understanding that non licensed persons cannot be paid on a production and/or commission basis on a real estate transaction? Does this apply to rentals?
2 Answers from Attorneys
Re: Compensation for non licensed person in a real estate transaction
Owners of property are entitled to sell or manage them. The real question is what is fair under the circumstances. Unless there are 5 members of the group and each of them want to assume responsiblility for collecting the rent and making deposits for a property, then the member who performs that service for the other members probably deserves to be compensated
Re: Compensation for non licensed person in a real estate transaction
No one here can make assumptions about what anyone in your group "deserves." Work it out among yourselves.
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