My wife is a realtor. We live in Texas. We are going to buy a house later on this year, but I will be the

Asked by Eric, 76002 Mon Mar 31, 2008

only one on the financing. Can she still get a commission if she finds the house?

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Paul B. Perez, , Austin, TX
Tue Apr 1, 2008
Absolutely yes! Everyone has great reason's why, but the #1 reason why is "you always pay yourself!" If she does not get a commission, how much will she make this year vs. not claiming it? The next time you go to buy a home and need her to qualify, that small amount of commision may be what she needs as claimed income to qualify. We often buy homes for ourselves in our office only we have our broker be the "Agent" on paper as not to upset the natural balance of the loan process. Like Bruce says, she must disclose that she is an agent. We also write our commission in as a "bonus" as opposed to pre-paid rents, or discounts, etc...
3 votes
Larry Story, Agent, Greensboro, NC
Mon Mar 31, 2008
There is no reason why she cannot be your buyers agent. She does have to just disclose the fact that she is related to the buyer. That way you/ she would get the commission. Although as the agent before mentioned it is more of a lender issue. Basically they look at the money coming back to you.

Larry Story
Coldwell Banker Triad
1 vote
Zyre Sullivan, Agent, Arlington, TX
Thu Dec 12, 2013
Definitely. She will however need to disclose that she has a vested interest in the property. Her broker can inform her as to where exactly in the contract that she needs to disclose that information and what exactly is the way that she needs to word that.
0 votes
The United H…, Agent, Mansfield, TX
Fri Oct 18, 2013
Yes, as long as she discloses to the seller that she is a licensed realtor. Rather than worrying about the commission I would use that to your advantage by having the sellers reduce the sales price considering the agency and or pay the difference in closing cost and just leave out the commission rate. This way your wife will not have to split her commission with her broker and or worry about problems down the road with financing with the lender.
0 votes
Margaret T.…, Agent, Conroe, TX
Sun May 11, 2008

Congrads on your intention to purchase Real Estate and having someone in the family to assist. Let me see if I can be of help to you.
My first question is , is your wife a Realtor or a Real Estate agent? Many people , including non NAR real estate agents think that just passing the real estate test makes you a Realtor. You must be an active member of a Real Estate Board that is a Member of NAR in order to be a Realtor.
My second question is, is her lic. active
My third question is - are you planning on purchasing a home that is listed with a local board.

The answers to this will have a lot to do with if she can or will be paid a commission.

First she must have an active lic..
Now we need to find the home, If you have another agent searching for the home you may have skipped some of the following.
If your wife is a member of the local board and the house is listed with the local board , she must call the agent or showing service) to see the home telling them up front that she represents herself and will be her own agent. - Even if she is not on the financing she is purchasing the home, you can not purchase Real Estate in Texas that does not fall under the community property laws.

If she is licensed but not a member of the local board she can then contact the listing agent/broker and tell them that she wants to view their property and represent herself. Ask what commission they pay a non board member. Get it in writting before viewing the property, TAR has a form Registertation between Brokers, if she has no Broker sge has no active lic. A Board broker does not have to pay a non board broker unless that part of listing agreement has an amount filled in . All Do not and some have a different rate. If y'all are viewing homes that are not listed with any MSL , She must still have an active lic., and make it clear at the beginning of your relationship with the other Broker. Do not assume - not all Brokers pay a Buyers agent.

If you are the only one viewing the property and she is just wanting to share in the commission.
First only contact the listing agent or Broker and disclose her position, do not ask any other agent in the office to assist you let their Broker make those arrangements. Do all the above - Say your wife is an agent and so on. Here I would definetly get an agreement in writting.

Some FSBO will pay a buyers agent but I think you are streaching that when you represent your self.
but you and she must still mention her status if she holds an active lic.. I would still mention it if the lic. is inactive just to avoid any problems in the future. This should be disclosed to the owner on first contact and first meeting.

In other words as a Texas Real Estate agent the commission and amount depends on her status.
But the one constant thing is Disclose, disclose, disclose.
It has already been mentioned that under some circumstances, such as some corporate owned or HUD homes that no party of the contract can share in the commission. She is a party of the contract because the property is community property.

I hope this helps ,

0 votes
Josh M. Boggs, Agent, San Antonio, TX
Tue Apr 1, 2008
Of Course,

As long as she is a Realtor carried actively under a broker, then of course! That's how I've purchased my home! Picked up deal, used the commission to fix it up and wha la... it's awesome!
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0 votes
Karen Shrock…, Agent, Dallas, TX
Tue Apr 1, 2008
Generally, the best advice is for her to check with her sponsoring broker. Company policies vary on the purchase or sale of personal property. The companies with whom I have been affiliated have allowed an associate to purchase or sell one property per year without having to pay a split to the broker.

I would not foresee any problem with her receiving her commission for purchasing a home even if she is a principal. (Even though the loan will be in your name, the deed will be held in both names as community property.) She is still plying her trade albeit on her own behalf, so she is earning the commission.

I do however like the idea stated previously by a colleague here that you consider taking the commission as a further decrease in the selling price of the house you purchase. She won't get cash at closing, but you won't be financing that much of the home either. If company policy allows her to waive her broker split, that helps to facilitate negotiating the credit. Check the tax implications though. The reduction especially in lieu of commission will probably still be considered income to her.
0 votes
Hi, , Virginia
Tue Apr 1, 2008
normally i tell people to wait
because prices are declining
but since your wife is a realtor
i think now is a great time to buy
your wife probably already knows this

but anyways

good luck
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Mar 31, 2008
There is different ways to play this I am a realtor and loan officer.

If you locate the house and feel more comfortable in placing another agent on the contract to avoid any problems I would be happy to do so pay my brokers fees nominal amount of money , the remainder we work out via broker to broker fees.

Notify me of anyway I can assist.
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0 votes
Bruce Lynn, Agent, Coppell, TX
Mon Mar 31, 2008
It depends. In general I would say yes. Her name can also be on the contract, but either way she would need to disclose that she is a licensed Texas realtor in the offer. There are occasionally some banks and some builders who will not pay a fee to a principal in the transaction. Some lenders may also not like this. There are of course good ways around this. You could put a clause in the contract to reduce the purchase price by the amount of the buyers commission. This might be more beneficial to you if her broker gets a cut of the commission. Also it might be more tax advantagous as you might not have to pay income tax on the commission. Lots of different plays there.
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0 votes
Janelle Wilt…, Agent, Marysville, WA
Mon Mar 31, 2008
She can represent you as the buyer's agent (she can represent herself for that matter in most states) However, if you are buying in another state and she is not a licensed agent in THAT state... she can not be your buyer's agent. Also, you may want to verify the E&O coverage through her office. Sometimes when selling or buying and representing yourself (she is married to you and will more than likely be on title, most states are community property states). Sometimes the office Error and Omissions Insurance will not cover your own buying and selling transactions. You may want to check! Good luck!
0 votes
RE/MAX Empire…, , Texas
Mon Mar 31, 2008
Absolutely! Be careful if it is a foreclosure. They get picky about that. Also, a HUD home may have a problem with it as well. However, that is great that she is a realtor. She can find some great deals here in Texas.
0 votes
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