Is Anyone a RE Agent/Broker and Sell Their own Property? (commission, fees)

[2O13]

I was curious how that works if you are selling your own properties and you are also a RE Agent/Broker ?

Also, can you make a nice incoming doing such?

[2bindenver]

Usually, the reason to sell the property you own, is to not make money on the transaction. I have sold 3 houses, bought 4. I reduced my commission in each case to just cover brokerage fees.

Any income would be taxed. Profit from the sale of a personal residence would be subject to the 2 year $250,000/500,000 income tax free irs rule.

[davecj]

Originally Posted by 2O13

Also, can you make a nice incoming doing such?

The answer is either yes, no, or maybe.

[Pat-Bay Area]

Originally Posted by 2O13

I was curious how that works if you are selling your own properties and you are also a RE Agent/Broker ?

Also, can you make a nice incoming doing such?

In terms of the commission? You don't make any commission, you just reduce the costs of paying an additional 2.5%-3% if you had another broker list the property. If you procure the buyer, then you won't have to pay out any commission.

I think the better choice of words would be 'you'd save money doing such.'

[marksmu]

Originally Posted by 2O13

I was curious how that works if you are selling your own properties and you are also a RE Agent/Broker ?

Also, can you make a nice incoming doing such?

I am an agent and I am selling my own house now. You dont make any money doing it unless the house has appreciated, you just save money by doing it yourself...you save the Seller's 3%. Its not like the commission comes from some magic source. Seller/Buyers commissions come from the Seller, so you definitely are not making money.

Like everything else if you can do it yourself and you are good at it, then you are always better off doing it yourself than paying someone else. If you are not good at it, and you dont have the time, then you are far better off paying someone else to do it for you.

I got my license to help other folks and to save some money for myself when I buy rental properties, and my own properties...its worth it if you are active in real estate...if you are not active then it may not be worth paying the $1000 or so a year to keep your license up.

[2O13]

thanks for all the replies