Home › Forums › Closed Forums › Buying and Selling RE › Getting RE License for Myself
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urbanrealtor.
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August 10, 2008 at 8:59 PM #255750August 10, 2008 at 9:04 PM #255469
SD Realtor
ParticipantActually what UR forgot to mention is that assistants are not allow to perform transactions. I don’t believe the original poster posted his question such that he could have the status of an assistant and just have MLS access. So perhaps it should be clarified that when you are an assistant that you are not licensed to perform transactions.
Reading the original post may lead to more insightful comments to be helpful to the poster.
“Also, some sellers (and/or their agents) will not award a CBB when the agent is the buyer”
Actually and this is just a guess but I am not so sure any CBB can actually be awarded to a buyer that is not represented. As Rustico pointed out the best way to deal with that is to simply ask the listing agent to reduce the price of the home by the CBB. Alternately the buyer can simply request a credit of x% at closing for recurring and non recurring fees. Nowhere in any of the purchase contract is anything about commissions or coop commissions ever mentioned. Commission to listing agents is discussed in the RLA Residential listing agreement. On the coop side the commissions are discussed in Cooperating Broker Compensation Agreement of which there is no areas for principals to sign.
I could be wrong on the CBB part but I know you will correct me if I am.
August 10, 2008 at 9:04 PM #255644ParticipantActually what UR forgot to mention is that assistants are not allow to perform transactions. I don’t believe the original poster posted his question such that he could have the status of an assistant and just have MLS access. So perhaps it should be clarified that when you are an assistant that you are not licensed to perform transactions.
Reading the original post may lead to more insightful comments to be helpful to the poster.
“Also, some sellers (and/or their agents) will not award a CBB when the agent is the buyer”
Actually and this is just a guess but I am not so sure any CBB can actually be awarded to a buyer that is not represented. As Rustico pointed out the best way to deal with that is to simply ask the listing agent to reduce the price of the home by the CBB. Alternately the buyer can simply request a credit of x% at closing for recurring and non recurring fees. Nowhere in any of the purchase contract is anything about commissions or coop commissions ever mentioned. Commission to listing agents is discussed in the RLA Residential listing agreement. On the coop side the commissions are discussed in Cooperating Broker Compensation Agreement of which there is no areas for principals to sign.
I could be wrong on the CBB part but I know you will correct me if I am.
August 10, 2008 at 9:04 PM #255648ParticipantActually what UR forgot to mention is that assistants are not allow to perform transactions. I don’t believe the original poster posted his question such that he could have the status of an assistant and just have MLS access. So perhaps it should be clarified that when you are an assistant that you are not licensed to perform transactions.
Reading the original post may lead to more insightful comments to be helpful to the poster.
“Also, some sellers (and/or their agents) will not award a CBB when the agent is the buyer”
Actually and this is just a guess but I am not so sure any CBB can actually be awarded to a buyer that is not represented. As Rustico pointed out the best way to deal with that is to simply ask the listing agent to reduce the price of the home by the CBB. Alternately the buyer can simply request a credit of x% at closing for recurring and non recurring fees. Nowhere in any of the purchase contract is anything about commissions or coop commissions ever mentioned. Commission to listing agents is discussed in the RLA Residential listing agreement. On the coop side the commissions are discussed in Cooperating Broker Compensation Agreement of which there is no areas for principals to sign.
I could be wrong on the CBB part but I know you will correct me if I am.
August 10, 2008 at 9:04 PM #255707ParticipantActually what UR forgot to mention is that assistants are not allow to perform transactions. I don’t believe the original poster posted his question such that he could have the status of an assistant and just have MLS access. So perhaps it should be clarified that when you are an assistant that you are not licensed to perform transactions.
Reading the original post may lead to more insightful comments to be helpful to the poster.
“Also, some sellers (and/or their agents) will not award a CBB when the agent is the buyer”
Actually and this is just a guess but I am not so sure any CBB can actually be awarded to a buyer that is not represented. As Rustico pointed out the best way to deal with that is to simply ask the listing agent to reduce the price of the home by the CBB. Alternately the buyer can simply request a credit of x% at closing for recurring and non recurring fees. Nowhere in any of the purchase contract is anything about commissions or coop commissions ever mentioned. Commission to listing agents is discussed in the RLA Residential listing agreement. On the coop side the commissions are discussed in Cooperating Broker Compensation Agreement of which there is no areas for principals to sign.
I could be wrong on the CBB part but I know you will correct me if I am.
August 10, 2008 at 9:04 PM #255755ParticipantActually what UR forgot to mention is that assistants are not allow to perform transactions. I don’t believe the original poster posted his question such that he could have the status of an assistant and just have MLS access. So perhaps it should be clarified that when you are an assistant that you are not licensed to perform transactions.
Reading the original post may lead to more insightful comments to be helpful to the poster.
“Also, some sellers (and/or their agents) will not award a CBB when the agent is the buyer”
Actually and this is just a guess but I am not so sure any CBB can actually be awarded to a buyer that is not represented. As Rustico pointed out the best way to deal with that is to simply ask the listing agent to reduce the price of the home by the CBB. Alternately the buyer can simply request a credit of x% at closing for recurring and non recurring fees. Nowhere in any of the purchase contract is anything about commissions or coop commissions ever mentioned. Commission to listing agents is discussed in the RLA Residential listing agreement. On the coop side the commissions are discussed in Cooperating Broker Compensation Agreement of which there is no areas for principals to sign.
I could be wrong on the CBB part but I know you will correct me if I am.
August 10, 2008 at 9:07 PM #255479Participantbob per my recent post. Yes you can represent yourself. No you cannot receive a commission. You can negotiate a lower price and/or credits back from the seller. I may be wrong but would be willing to take a stance that I am correct. Will glady admit to being mistaken if proven so.
I have never seen a principal who is not a licensed agent under the employ of a broker receive a commission in the formal sense that commissions are defined by the DRE.
August 10, 2008 at 9:07 PM #255654Participantbob per my recent post. Yes you can represent yourself. No you cannot receive a commission. You can negotiate a lower price and/or credits back from the seller. I may be wrong but would be willing to take a stance that I am correct. Will glady admit to being mistaken if proven so.
I have never seen a principal who is not a licensed agent under the employ of a broker receive a commission in the formal sense that commissions are defined by the DRE.
August 10, 2008 at 9:07 PM #255658Participantbob per my recent post. Yes you can represent yourself. No you cannot receive a commission. You can negotiate a lower price and/or credits back from the seller. I may be wrong but would be willing to take a stance that I am correct. Will glady admit to being mistaken if proven so.
I have never seen a principal who is not a licensed agent under the employ of a broker receive a commission in the formal sense that commissions are defined by the DRE.
August 10, 2008 at 9:07 PM #255717Participantbob per my recent post. Yes you can represent yourself. No you cannot receive a commission. You can negotiate a lower price and/or credits back from the seller. I may be wrong but would be willing to take a stance that I am correct. Will glady admit to being mistaken if proven so.
I have never seen a principal who is not a licensed agent under the employ of a broker receive a commission in the formal sense that commissions are defined by the DRE.
August 10, 2008 at 9:07 PM #255765Participantbob per my recent post. Yes you can represent yourself. No you cannot receive a commission. You can negotiate a lower price and/or credits back from the seller. I may be wrong but would be willing to take a stance that I am correct. Will glady admit to being mistaken if proven so.
I have never seen a principal who is not a licensed agent under the employ of a broker receive a commission in the formal sense that commissions are defined by the DRE.
August 10, 2008 at 9:08 PM #255474NotCranky
ParticipantAnyone who might know, If the commission is not taken is the IRS owed taxes?
August 10, 2008 at 9:08 PM #255649ParticipantAnyone who might know, If the commission is not taken is the IRS owed taxes?
August 10, 2008 at 9:08 PM #255653ParticipantAnyone who might know, If the commission is not taken is the IRS owed taxes?
August 10, 2008 at 9:08 PM #255711ParticipantAnyone who might know, If the commission is not taken is the IRS owed taxes?
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