Yes, they can. My former company had a policy that on a one-time purchase of a home for yourself, you could keep the whole buyer-side commission and did not have to split it with the company.

Some types of information are imperative to disclose such as whether the agent is acting for himself or herself (SELF-DEALING). New York forbids brokers and salespersons to buy or sell property in which they have a personal interest without informing the seller or purchaser of that interest. It is prudent to make such a disclosure in writing as part of the purchase contract before it is signed. If a buyer's broker has a similar type of relationship with the property seller, that relationship must be fully disclosed to the buyer.

Problems can occur when a broker lists property, then decides to buy it and collect the agreed-on commission. At that point, those brokers represent themselves but continue to act as the sellers' agents as well. IT IS ADVISEABLE FOR AGENTS IN THIS POSITION TO GIVE UP THE LISTING, COLLECT NO COMMISSION, AND JUST REPRESENT THEMSELVES AS BUYERS.

Yes licensed real brokers can collect commission.

Anna

Hello Hackworth and thanks for your question.

In short, yes, I did get a commission to buy my own home. It is one of the rare "perks" to being an agent. However, keep in mind that whlie we do get the commission, our liability is slighlty increased in any transaction because we are no longer just an "ordinary man" purchasing a home, but an "expert" and that title greatly increases the assumption of what the agent "should" know in the transaction.

So, to answer your question, we do get a commission, but it comes with strings attached.

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty