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I was wondering if a real estate agent can represent him/herself as a buyer in a real estate transaction and receive the same commission as if they represented a buyer in another transaction?
Generally true...It is not always. Banks often reserve the right to refuse to pay commission to RE Agents trading for their own account on shorts and REPOs..
Our organiization generally uses a straw agent to separate the agent buying (or selling) from the commission. It goes to the buyer agent however generally without a brokerage cut.
An employment benefit. You cannot get such an arrangement though if all your business is trading for your own account.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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It's perfectly legal in CA and must be disclosed to the seller. It's also perfectly stupid to do so.
Why would I collect a commission in lieu of reducing the price the amount of my commission? I'd have to pay income taxes on it and it would increase my basis in the property.
In my office I charge $500 for an agent to buy something for their own account to cover overhead. when they sell, I get the office portion (25%) as a commission for the sale.
our agency handles it that if it is a personal residence, bought or sold, the agent only pays a minimum amount (around $100) to the agency to cover some overhead things... for any investment property we have to pay $1000 fee to the company. Both of these perks only come into play after a certain amount of time with the company or a certain number of transactions.
Shelly
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