Being The Developer and The Real Estate Agent in Massachusetts

[Philip Ganz]

Hello Bigger Pockets,

My business partner who is a realtor wants to be the agent on the transaction.  What is the upside of being the developer and realtor? Downside? has anyone done this before? 

Thank you,

Phil

[Charlie MacPherson]

@Philip Ganz  I've done one flip with a contractor/partner.  I was the agent for the acquisition and made a tiny commission because the purchase price was low.

I was also the agent on the sale of the property - and I brought the seller in a disclosed dual agency deal.  

We closed $30K above our target price and all parties were happy.

The downside is that you get jealous when he makes all that commission.  In my case, I reduced my partnership share a bit to compensate.  I'm sure your partner knows, but he must disclose his interest in the property when it's listed.

Aside of that, there shouldn't be any issues.