As a traveling real estate professional, it is likely that you step outside of your state. But if you understand real estate law, you would be able to guess that it may be difficult to operate with your license outside of your jurisdiction.
You work hard for your Connecticut real estate license, but are you actually held down to your jurisdiction? Following the many laws of real estates, such as your age – you need to know a few more to keep yourself protected from the law.
Real Estate Reciprocity – is the agreement between multiple states that allows agents and brokers to operate in other locations without having to take the required real estate exam.
This makes a sales person’s life much easier, especially if they want to take positions outside of their destined location.
Like any other law, there are boundaries to how it works. One cannot simply just leave his/her state to conduct real estate transactions. Because of this, you need to understand the following classifications:
Cooperative – a cooperative state agreement allows the agent’s to do showings, listings, and much more in other states with little to no legal boundaries. This is the best case scenario, you can find out which states are cooperative by clicking on the link above highlighted with “real estate reciprocity”.
Physical Location State – allows real estate agents/brokers to do business at a physical location if they are from that state. If they are not, all real estate transactions must be done remotely.
Turf State – these states allow people to do transactions remotely and at a physical location.
As a professional real estate brokerage, we recommend that you try to stay within your zone. Working with buyers and sellers in different states can be very tricky. Think about it, wouldn’t a buyer or seller rather work with someone inside of the state?
Only use real estate reciprocity when you have to, other than that – stay within your zone’s. Contact Tier 1 Real Estate today to receive a free consultation on your home and it’s value.
We try to make it a very clear process when selling your home. By going above and beyond to see if your home is ready for sale by inspecting the home’s market value, the market trend, the home’s curb appeal, the plumbing, the paint, and everything else that factors into your homes price.