[Marty Shaw]

OK, I'm mainly asking this because I'm a firm believer in CYA. Would there be a conflict of interest if have an office in a mortgage brokers office? My trainer is about 45 miles away, and a lot of the appraisals are in my (and the broker's) area. The broker says I can set up my pc and stuff and basically have a 'home' office that's not home. I don't really have the space for an actual home office at the moment (the joy of living in a mobile home), so I think this is a feasible idea...if it doesn't step on any legal toes. Any comments or opinions are appreciated.

-Marty

[Mike Garrett, RAA]

Not illegal or unethical, at least in my state. What do they expect in exchange for office space???? Be careful of ...."could you do comp searches for us?". That isn't illegal either; however, remember if you do you will need to have a work file for each one.

[Dee Dee]

Legal or not, you need to consider appearances if the question of whether or not you are an unbiased party in the transaction were to be questioned.
If anyone in that mortgage company were to come under legal scrutiny you can bet that everyone in the office will be put under a microscope as well.

How many among us wouldn't be just a tad bit suspicious of the ethical standards of an appraiser set up in a broker's office? Regardless of what we think, the burden of proof would be the appraisers problem.

I don't think I would feel comfortable about that if I have no control or full knowledge about what everyone around me was up to.

[Marty Shaw]

Thanks for the input. I appreciate it.

Mike, so far there are no strings attached and my mentor has told them in no uncertain terms that even though I'll have office space there I am still HIS employee and also that this arrangement is for convenience and if it becomes more troublesome than convenient, alternate plans wii be made. I'm hoping to set up a home office soon anyway so I don't plan on this set-up being permanent.

Dee Dee, I agree that everybody (mainly me) is going to have to be extra careful for appearance's sake. Everyone is password protecting their pc's (not there's a lack of trust, but it should help defuse any future issues of someone having access to information they don't need) and like mentioned above, I plan on this arrangement only being for a short time.

-Marty

[Richard J. Glesser]

From experience, I can tell you that you'll limit your client base. Anytime you share office space with a mortgage broker or real estate firm, you will lose some clients who do not want to deal with their competition. Even if you paid no rent, you'd be perceived to be connected. :usa:

[Mike Garrett, RAA]

Good point Richard!

[Marty Shaw]

Ooohhhh!!!!! Good point, Richard. I hadn't even thought of that possibility. Thanks for the heads up.

-Marty