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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (23436)	8/20/2004 10:56:27 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Oh, don't worry. I'm many things, but silly isn't one of them. Perhaps you should direct the silliness charge to the IRS or the state, which make the rules. Maybe this will be news to some people, but if even one dollar for services rendered is paid directly to an agent instead of to the agent's broker, the money is not accounted for and the end result could be hot water for the agent and for the broker--under state law and federal tax law. My silliness stemmed from your statement about paying "management fees off the books". Price range and dollar amount don't make one transaction any more silly or illegal than another. If agents could run around working off the books for a dollar-and-some-change all the time, all agents would be running little rackets on the side, without penalty and without an ounce of protection for their clients. It would be a profitable gig if they could do it--and yes, there are many opportunities to do so.