Aoa, I am a realtor In USA and I have 3 questions .
1- are my earnings Harām if I help a buyer Who is buying house on conventional mortgage ?
2-if I am a sellers agent and I help sell his house That is on conventional mortgage to a buyer who has cash or buyer who buys on loan . Will my earnings be halal or not ?
3- if I have stopped representing buyers on conventional mortgage am I allowed to complete my transactions under contract and use my commission after repenting or not . ?
Please help
Assalaamu alaykum
How do you help?
I am a realtor
, , as a buyers agent , I show the buyer houses to buy and have to refer lenders for loans If they are not buying on cash .i have to follow up through out with the lender during the transaction to make sure the loan will fund on time for closing .
As a sellers agent I list the houses for sale in the open market and buyers represented by the buyers agent come to buy with cash or with loans from banks . I have to make sure the house sells and have to follow up with the lender for loan funding
Aoa , Just wondering if you saw my answer . Thanks
Assalaamu alaykum,
Assisting and facilitating interest-based lending is not Shariah compliant. Wherever this takes place in your role, that role is not permissible.
Allah knows best
As a sellers agent I don’t facilitate interest based lending as an agent. But the buyer May be Buying on interest . I have to follow up with the lender that the transaction goes through . Will the earnings be halal or not .
When you say follow up with the lender, what do you mean here? What do you do in that scenario?
As a sellers agent I keep track With the buyers agent regarding funding of the transaction .
if it’s cash I get necessary documents and if it’s a loan then communicate With the buyers agent on the status of funding of the transaction by the lender or find out and suggest to seller if there are chances that the loan might not fund and that we might have to put the house back on the market to get another buyer . IT will be easier to explain To you over a phone call .
As long as you are not involved in finalising the interest financing and you are not directly involved in facilitating it, then your job in question will be permissible. However, if you are involved directly, it would be problematic.
Allah knows best