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 Using unlicensed agent, Risks associated with unlicensed agent

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TSMeileetan
post Sep 15 2022, 08:44 AM, updated 4y ago

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An agent approached me offering to help look for tenants. I asked for name card and searched the agency number on LPPEH. Turns out this agent is not licensed although the company is a valid one. When questioned, she said she already sat for the exam and awaiting results.
She has now successfully secured 2 interested prospects who want to put down the booking deposit. My question is: what risks am I facing if I proceed with the services of this agent? What options do I have - e.g. ask her to co-broke with a licensed REN?
Thanks.
SUSifourtos
post Sep 15 2022, 08:55 AM

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t.a is just between u and tenant.
tenancy agreement

that matter most.

agent, non agent, friend intro, self post on property site, watever

is just about the cost of acquiring tenant
mini orchard
post Sep 15 2022, 09:06 AM

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QUOTE(Meileetan @ Sep 15 2022, 08:44 AM)
An agent approached me offering to help look for tenants.  I asked for name card and searched the agency number on LPPEH.  Turns out this agent is not licensed although the company is a valid one.  When questioned, she said she already sat for the exam and awaiting results.
She has now successfully secured 2 interested prospects who want to put down the booking deposit.  My question is: what risks am I facing if I proceed with the services of this agent? What options do I have - e.g. ask her to co-broke with a licensed REN?
Thanks.
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By now, all negotiators should have renewed their ren membership with lppeh.

If the ren is not registered, then you call the agency and request to assign a registered ren to handle your case.

How they share the commission, leave it to the agency to sort it out .
vicky.max
post Sep 16 2022, 01:16 PM

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QUOTE(Meileetan @ Sep 15 2022, 08:44 AM)
An agent approached me offering to help look for tenants.  I asked for name card and searched the agency number on LPPEH.  Turns out this agent is not licensed although the company is a valid one.  When questioned, she said she already sat for the exam and awaiting results.
She has now successfully secured 2 interested prospects who want to put down the booking deposit.  My question is: what risks am I facing if I proceed with the services of this agent? What options do I have - e.g. ask her to co-broke with a licensed REN?
Thanks.
*
Then she's a broker, not a registered agent.
It's common for them to mislead others by providing a name card bearing a real 'real estate agency' but at times the namecard wouldn't have the agency's address nor phone number.

Did she said that she will prepare the tenancy agreement for you and get it stamped?

 

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