U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old Today, 01:21 PM
 
Location: El paso,tx
2,384 posts, read 896,357 times
Reputation: 3808

Advertisements

I reduce sales price the amount of commission. My broker charges me a 650. Flat fee on my personal homes.
Reply With Quote Quick reply to this message

 
Old Today, 03:37 PM
 
Location: equator
3,839 posts, read 1,678,747 times
Reputation: 9613
Quote:
Originally Posted by Thinking-man View Post
Hi,
as a realtor, how do you typically handle your own property purchases?
obviously, you want the 3% commission, but you'd probably prefer it be applied to the home's price as opposed to come out as 'income'.
What's the protocol?

thank you.

State: Virginia
A realtor bought my TX condo. She insisted on deducting that amount, so OK. Came out the same in the end.
Reply With Quote Quick reply to this message
 
Old Today, 03:48 PM
 
Location: Raleigh NC
9,940 posts, read 7,489,477 times
Reputation: 8565
you buy a house today for 100K.

you take $3K commission: you're paying your marginal income tax rate today on that money.

you make the contract price 97K and take no commission. that 3K becomes (most likely) an untaxed capital gain when you sell in 5 years for 140K. You theoretically "get" the 3K, tax-free, when you sell.
Reply With Quote Quick reply to this message
 
Old Today, 04:01 PM
 
Location: Danbury CT covering all of Fairfield County
2,280 posts, read 6,039,963 times
Reputation: 1094
Have it applied toward your closing costs with your lender and deal with paying your broker later.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top