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Updated about 10 years ago on . Most recent reply

Account Closed
  • Homeowner
  • Signal Hill, CA
70
Votes |
521
Posts

Can Licensed Salesperon (Agent that's not Broker) Collect Commission in ANY CIrcumstances?

Account Closed
  • Homeowner
  • Signal Hill, CA
Posted

collect commission directly, that is, as opposed to receiving from his/her broker.

so, are these allowed in your state?

a few scenarios.. assume all occur in the state the professional is licensed:

1- Agent lists their own house on MLS and sells directly, double-ending the deal without a buyers/sellING agent's help. Agent has 100% Commission structure with flat-fee Broker. At closing, Agent directs Escrower to cut commission check in Agents name, not his/her brokers.

2 - Agent lists their friend's house on MLS and sells directly, double-ending the deal without a buyers/sellING agent's help. Agent has 100% Commission structure with flat-fee Broker. At closing, Agent directs Escrower to cut commission check in Agents name, not his/her brokers.

3 - Agent finds a home on MLS for him/herself. Agent makes a direct offer conditional that listing agent agrees to give agent half of the total commission. Seller and Listing Agent accept. Agent has 100% Commission structure with flat-fee Broker. At closing, Escrower cuts commission check in Agents name, not his/her broker.

Most Popular Reply

User Stats

47
Posts
27
Votes
Sandy Thomas
  • Residential Real Estate Broker
  • Noblesville, IN
27
Votes |
47
Posts
Sandy Thomas
  • Residential Real Estate Broker
  • Noblesville, IN
Replied

In Indiana, none of those three situations would be allowed.  As a Realtor, I am not acting independently, but as a representative of my broker in all transactions. The 'contract' is not with me but with my brokerage.

The one exception would be if I were the principal  broker of my own firm, which did business under my actual name.  For example, if i had named my brokerage:  Sandy Thomas, Realtor

I will be interested to hear others opinions on this and how it is handled elsewhere.

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