Updated about 6 years ago on . Most recent reply
Commissions when wholesaling
If you are licensed under a brokerage who takes a percentage of your commissions, and are wholesaling, how do you handle your wholesaling fee/commission? I'm in Illinois and am considering getting my license, but would have to hang my license under a brokerage for 2 years and would like to wholesale.
Say your assignment fee is $5000 and you pay 20% of normal commissions to your broker. Would you pay 20% of this fee to them, or do you have to call it a commission instead of an assignment fee? Does it matter? What's the dealio?