What are we legally allowed to do

[Oye Alle]

I am a newbie got my license mid 3rd quarter 2014.  I am curious, can a licensed agent put a contract on a property subject to without going through his brokerage?  I am just wondering what the real estate agent can legally and ethically do?  I am attempting to get into investing, and can't imagine how my brokerage wouldn't frown upon me buying a property and flipping it, without the brokerage being involved, is that even legal?