Question
Paul is not a licensed real estate agent. He locates a buyer for his neighbor, Sally, who wants to sell her home. Sally signs a
Paul is not a licensed real estate agent. He locates a buyer for his neighbor, Sally, who wants to sell her home. Sally signs a written agreement promising to pay Paul $12,000 for his services. State law requires a valid real estate agent's license before a person is entitled to assist anyone to buy or sell a home for compensation. If the buyer of the home completes the purchase,
1. Paul is entitled to $12,000 for his services because the contract was in writing.
2. Paul is not entitled to anything due to the Statute of Frauds.
3. Paul is not entitled to anything because he is unlicensed and committed a crime.
4. Paul is entitled to $6,000, half the usual commission, because he was unlicensed.
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