Legal Question in Business Law in Illinois
Real Estate
I'm working with a real estate investor/realtor. He had proposed to me to work with him on short sales. I will be paid a flat fee of $500 per deal closed. So, my questions are the following:
1. Would this be a independent contractor job or a business agreement?
2. He also indicated that as the we start working he will teach me on how to invest in real estate. Should this be included in a agreement?
2.
2 Answers from Attorneys
Re: Real Estate
If you are an independent contractor, then you 1.) are is free from control or direction over the performance of the services, both under the employment contract of service and in fact; 2.) the service is either outside the usual course of business for the employer or performed outside the place of business, and 3.) the worker is engaged in an independently established trade, occupation, profession, or business. So if you are doing the same work the employer does, you do it under his direction, you do it at his place of business and/or using his tools/equipment to perform your job, you are probably NOT an independent contractor.
If you are entering into a written agreement with this person, make sure that every single term of the agreement as you understand it is included in the document.
Re: Real Estate
You need to post more information concerning your responsibilities, where and how you will perform them and what supervision is being provided.
You should have an attorney review or prepare an agreement. The few hundred dollars you spend could save you thousands, later.
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