Commission for Real Estate Agent When Buying Property for himself

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Commission for Real Estate Agent When Buying Property for himself

Robert Huang
Member since 2018 · 20 posts · 4 votes

Hi

I am not sure if this has been answered correctly on the internet- did a search and found no answer.

If I am licensed as a real estate agent in order to access the MLS, and end up buying a property for myself, do I have to pay my brokerage a commission, if I choose not to collect commission on the purchase?

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  • Krista Moulds
    Investor · Warrington, PA · Member since 2013 · 8 posts · 0 votes
    7y
    This depends on the set up that you have with your broker regarding commission splits and fees per transaction. I am licensed as well and had an upfront conversation with my broker about expectations so that everybody was clear. Do you know the rules / expectations from your broker?
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  • David Friedman
    Property Manager · San Bernardino, CA · Member since 2014 · 473 posts · 238 votes
    7y

    You should talk to your broker. Many brokers won't charge you a split if you are buying the house for yourself. Depends on what kind of relationship you have with your broker.

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  • Brandon L.
    Real Estate Agent · Falls Church · Member since 2012 · 2k+ posts · 1k+ votes
    7y

    @Robert Huang depends on the contract you have with your broker. I would suggest giving it a read

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    The commission belongs to the brokerage, not you. How your brokerage pays you is outlined in your independent contractor agreement.

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  • Robert Huang
    OP
    Member since 2018 · 20 posts · 4 votes
    7y

    yes i see. i will talk to my broker before signing up. 

    i am not sure about the reasoning behind why i would need to pay broker for my own deals, even if found on mls. after all i am also paying for mls thru joining local, state and national association. 

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