Home Buying in 95829>Question Details

3girls, Home Buyer in 95829

Real estate agent in florida

Asked by 3girls, 95829 Mon Mar 12, 2012

I am a new RE Agent in Florida, can I buy investment properties to flip in my own co name (ie: my real estate business name) & collect the commission as the buyer?

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Answers

5
Bill Eckler-Florida,’s answer
Because real estate agents are in the business and follow their local market closely, many RE agents take advantage of opportunities that present themselves. There is nothing wrong with this provided all parties are aware of your status and are not the determining factor for the price of the property.
0 votes Thank Flag Link Thu Mar 29, 2012
If you are a licensed real estate agent in the state of Florida you can purchase properties in the name of your company and receive a commission but you will need to disclose that you are a real estate agent. Do note that if you are trying to purchase a short sale some lenders will not allow the commission to be paid to the buyers agent (you in this case) when the buyers agent is an owner or partner of the company purchasing the property. Also, keep in mind that as a real estate agent you can not collect a commission directly. You must hang your license with a Broker and commissions will be paid to your Broker who will in turn pay you based upon whatever commission split agreement you have made.
0 votes Thank Flag Link Wed May 15, 2013
Being licensed in the state you want to do business in is what I know to be needed to earn commissions. Are you licenses in CA which is where this posted?
0 votes Thank Flag Link Wed May 15, 2013
What? Florida? This question was posted in Sacramento California.
You can collect a referral fee if you put that in the broker representation agreement with your California agent. If you are talking about the whole fee in Florida - idk, I am in Cali.
0 votes Thank Flag Link Wed Mar 28, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Of course you can ! As long as you are not the listing agent and had anything to do with the suggest price. That might raise a red flag if the home owner feels he could have made more on the sale of his home..
0 votes Thank Flag Link Mon Mar 12, 2012
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