I do not have a real estate license. Can I charge a locating fee to property owners for locating a person to rent their property?
A. No, you must have a real estate license to assist another person when renting or leasing out their property. However, the law allows an owner’s employees to assist in the renting or leasing of the owner’s own property. Otherwise, you must first obtain a license and be sponsored by, and working under, a real estate broker. All fees for real estate services must go through your sponsoring broker. Section 3 of The Real Estate Licensing Act provides the following exceptions to the license requirement: Sec. 3. The provisions of this Act shall not apply to any of the following persons and transactions, and each and all of the following persons and transactions are hereby exempted from the provisions of this Act: (1) an attorney at law licensed in this state or in any other state; (2) an attorney in fact under a duly executed power of attorney authorizing the consummation of a real estate transaction; (3) a public official in the conduct of that person’s official duties; (4) a person calli
