Can i list a property on LoopNet without being a broker?
I work on my families commercial real estate and frequently negotiate large commercial leases. Would it be in any way illegal for me to list our properties for lease on the ownerships behalf? I am not licensed, state is NV.
[{"id": "htik8k3", "text": "You\u2019ve come to the right place. I am not a lawyer nor am I qualified to answer such question. Best of luck!", "replies": [], "depth": 1}, {"id": "htimryi", "text": "What kind of property is it?", "replies": [{"id": "htizyeu", "text": "Industrial", "replies": [], "depth": 2}], "depth": 1}, {"id": "htioeit", "text": "Sure you can.", "replies": [], "depth": 1}, {"id": "htipfo6", "text": "Yes", "replies": [], "depth": 1}, {"id": "htirykt", "text": "the owner of a property is pretty much always allowed to market it (or have their employees do so).   The only way you'd theoretically get in trouble is if they are paying you straight commission and you aren't an employee, but ya know welcome to the family business people do that shit all the time.", "replies": [{"id": "htizx3k", "text": "Great, that\u2019s what I thought.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htj5g3y", "text": "Don\u2019t know about legality, but an opportunity of mine came from seeing a site on LoopNet that was listed by the owner. If it is illegal I ain\u2019t no snitch.", "replies": [], "depth": 1}, {"id": "htjvjeq", "text": "When you set up your account, you will be asked if you are a broker or a principal, so you should choose the latter. And know that Loopnet is a paid membership so your listing is only visible to Loopnet subscribers. Loopnet wants you to pay several hundred dollars more for Silver, Gold or Platinum upgrades for 6x 10x or 50x the audience. The good news is that without the upgrades, the listing information makes it over to the property data on Costar (which owns Loopnet) where you really want your for sale listing to appear.", "replies": [{"id": "htk4g2j", "text": "So it will get to all the brokers with costar. That\u2019s good to know.", "replies": [], "depth": 2}, {"id": "htkfl2y", "text": "I think you're confusing CoStar and Loopnet.\n\nLoopnet is a publicly searchable platform people pay to advertise on. As you described there are a variety of packages. You do not need to be a licensed broker to advertise, but you do need either be the owner or the representative of the owner (ie, property management w/o license).\n\nCoStar is a membership and properties are only visible to CoStar members unless a loopnet package is purchased in addition to CoStar. Everything on loopnet (regardless of the package) is on CoStar. Not everything on CoStar appears on loopnet.\n\nNeither platform requires a real estate license. You'd be shocked how many landscaping companies have CoStar.", "replies": [{"id": "htkk0sq", "text": "&gt; representative of the owner (ie, property management w/o license)\n\nMost (all?) states require you to have a license if you are acting on behalf of the principal in a transaction (whether that is sale/purchase or a lease). Traditional fee-based property management without a license is a violation of real estate licensing laws in those states.", "replies": [{"id": "htm17lv", "text": "In this instance it would not be fee based, I am paid a monthly salary as an independent contractor. Effectively a family office.", "replies": [], "depth": 4}, {"id": "htm1rj7", "text": " [not all states.](https://www.allpropertymanagement.com/resources/property-management-laws/) and in the terms of service, CoStar &amp; loopnet essentially say that they're not responsible for people not following those laws, or laws related to payment of commissions (for example).\n\nThose states may be inconveniently wierd, but there they are.", "replies": [{"id": "htp7jik", "text": "So not in Idaho, Maine, Maryland, Massachusetts, Vermont? That's interesting to know.", "replies": [{"id": "htp90wj", "text": "Yeah... I knew about Idaho from other work. They reliably scoff at anything that resembles a regulation.  I appreciate that they're predictable.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "htm07nw", "text": "Ok. I am aware that LoopNet is the publicly available version of costar. How many properties are listed o costar but not on loopnet in the 3-5mm price range?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "htk4f27", "text": "You can absolutely list on LoopNet and Crexi without being a broker. I believe you can also list on Costar but you wouldn\u2019t have access to any insights. I\u2019m located in Reno as well and shot you a message.", "replies": [], "depth": 1}, {"id": "htk6glk", "text": "Yes", "replies": [], "depth": 1}, {"id": "htk7afo", "text": "You don\u2019t need to be a broker. You have to pay for the listing. You can list it in costar for free though I don\u2019t bother with LoopNet because the demographic I work with isn\u2019t searching the internet aimlessly for properties. I would recommend costar as you would be marketing to brokers with their own pool of investors.", "replies": [], "depth": 1}]