If I find and buy property without a buyer agent, is there any way to get the selling agent to split commision

In Buying Property - Asked by JAY D. - Dec 4, 2009
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Answer(s)

Bruce L.
Broker/Agent
Upper Marlboro, MD
Premium Subscriber

Commissions can only be paid to licensed real estate professionals who are associated with a brokerage firm or an attorney practicing real estate. To my knowledge, this is the only way to receive a commission.

Dec 4, 2009
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Davide P.
Broker/Agent
Pinole, CA
Premium Subscriber

Bruce got it right. Along with that, you'll find that the agents commission isn't part of any deal you bring. A common misconception is that buyers will get a better deal without using a buyers agent - they wont. The listing agent just makes the full spiff.

Dec 5, 2009
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Rhonda O.
Broker/Agent
Saint Louis, MO

I believe the attorney also has to be licensed as an agent.

Dec 6, 2009
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Steve M.
Owner/Investor
Plano, TX
Premium Subscriber

Jay,
These answers are right on. Typically, state real estate licensing agencies forbid commissions to be paid to anyone not a licensed real estate agent/broker in that state. Many states by default allow attorneys licensed to practice in the state to also act as real estate sales agents when it comes to commissions. Check your state's real estate licensing agency web site and you will know for sure.
Hope that helps,
Steve
steve@mb35.com
972-896-6501

Dec 8, 2009
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WES S.
Appraiser
Sarasota, FL

Yes, in many states the principals of a transaction can receive a portion of the commission. You must be the actual buyer or seller and not an unlicensed representative. Many sales agents do not want to do this for whatever reason. They do not understand state laws or probably took their courses online. Buy a textbook on real estate law from your local real estate school or call one of the professors there and ask which section it is in for your state. I have found if the agent is unwilling, ask if they will lower the commission to the seller and have the seller pay that portion toward closing costs.

Dec 14, 2009
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WES S.
Appraiser
Sarasota, FL

Yes, in many states the principals of a transaction can receive a portion of the commission. You must be the actual buyer or seller and not an unlicensed representative. Many sales agents do not want to do this for whatever reason. They do not understand state laws or probably took their courses online. Buy a textbook on real estate law from your local real estate school or call one of the professors there and ask which section it is in for your state. I have found if the agent is unwilling, ask if they will lower the commission to the seller and have the seller pay that portion toward closing costs.

Dec 14, 2009
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