Referral fee for purchase of a property for yourself?

[Chase Hoover]

As a licensed out-of-state real estate agent purchasing a property in another state for a personal investment, is it appropriate and/or legal to ask for a referral fee of the commission? I am not using a buyer's agent so the listing agent would be getting both sides. The property is in VA. I do not want to step out of line (or break the law), but it would certainly help to cover my closing costs if it's allowable.

[David M.]

@Chase Hoover

If you are good trusting the listing agent to do all your paperwork, I don’t see a problem with asking for a referral. I’m not as familiar with reducing the cooperating fee. I guess you could have it applied as a credit, but I forget what’s legal to negotiate fees like that, especially since you are a Realtor but not licensed to broker real estate in the State. Besides, are you really representing yourself? Who is opening the door during inspections, for example? If it’s the listing agent or homeowner, than you really aren’t representing yourself....

Good luck.