Martin Orefice is a husband, father, and entrepreneur with an interest in personal finance and real estate. He established USLeaseOption.com, the premier site for finding Florida rent-to-own homes. Consultations for other legal matters may be subject to a consultation fee. Schedule with us today and see how we can bring momentum and resolution to your active lawsuit.
- We provide a range of professional services, with the performance of our exceptional/outstanding team of experts who always pay extra attention to detail.
- As the legal framework continues to evolve, maintaining compliance with the ever-changing landscape becomes imperative for real estate salespeople and the brokerages they collaborate with.
- Taking a look at any homes that they have completed recently is a good place to start, and referrals can often provide this information.
Even worse, because contractors’ schedules are often so busy, a scheduling error could result in having to wait until they can fit you back in their schedule. Between managing, coordinating, and scheduling, serving as your own general contractor can almost be written off as a human resources management position. Again, the rule of thumb for selecting this option is determining whether your time could be better spent elsewhere. It’s very rare that a project goes from start to finish without at least a few changes being made by the customer. The alteration may be as simple as a change in style for a light fixture or a new wall color. However, some changes cause more work or material cost for the contractor and are known as extras.
Understanding a Real Estate Independent Contractor Agreement
This collaboration is important for different reasons as it creates a win-win situation for both parties as well as homebuyers. Under the current Internal Revenue Code, real estate professionals can be classified as independent contractors by their brokerage, however the new DOL rule impacts worker classification under the FLSA, which is a labor law. But the real estate industry has grown increasingly concerned about regulations, legislation, and proposed tests for determining employee status that could jeopardize certain classifications, whether at the federal or state levels. 5419, the Direct Seller and Real Estate Agent Harmonization Act, to get a carve-out for real estate agents under the FLSA.
