Rentals in 60532>Question Details

washingtonsa…,  in Lisle, IL

IF YOU ARE THE REAL ESTATE AGENT WHO IS RENTING A HOUSE, DO YOU GET PART OF THE COMMISSION THAT THE RENTAL AGENT HAS .

Asked by washingtonsalesatlanta, Lisle, IL Thu Apr 18, 2013

I AM A RENTAL BUT ALSO AN AGENT, I WISH TO KNOW IF I AM DUE ANY COMMISSION FROM RENTING THE PROPERTY DUE TO BEING AN AGENT.

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7
You are a rental? A talking house?
0 votes Thank Flag Link Fri Apr 19, 2013
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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STOP YELLING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
0 votes Thank Flag Link Fri Apr 19, 2013
You would have to be licensed, you would have had to disclose you were an agent and then would have to see if the rental was in MLS and did they offer a fee? If it was not in MLS you should have asked prior to showing or looking at it if there was a fee and what it was.
0 votes Thank Flag Link Fri Apr 19, 2013
If you have an IL license and renting for yourself, you would be entitled to the sell side commission as the selling agent. IL will not recognize out of state licenses. In that case, you are just a customer.

If you contacted the listing agent directly, the listing agent should have advised you that they represent the seller and they should have had you sign a dual agency disclosure. They most likely swallowed both sides of this deal.
0 votes Thank Flag Link Fri Apr 19, 2013
I agree with Lester S....disclose, disclose, disclose.
0 votes Thank Flag Link Thu Apr 18, 2013
are you licensed in the state? did you disclose that you were a lic. agent? was the property listed in the MLS? was there an advertised cooperative broker agreement? did you identify yourself as the lessee's agent (representing yourself)? did you negotiate for a commission? did you ask your broker?
0 votes Thank Flag Link Thu Apr 18, 2013
It depends on your market. In many markets the commission is split 50/50 or the tenants pay your 1/2 of the month commission.
0 votes Thank Flag Link Thu Apr 18, 2013
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