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Updated about 8 years ago on . Most recent reply

User Stats

79
Posts
27
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James Denon
  • Investor
  • Westbrook, CT
27
Votes |
79
Posts

Commission for realtor helping family member

James Denon
  • Investor
  • Westbrook, CT
Posted

My girlfriend just got her real estate licence. She is an investor. Since she is new, she cannot become a broker. She needs to be a real estate sales person working for a broker for a while.

If she buys a house for herself or she helps me buy a house, she should keep all or most of the commission instead of giving half or a significant portion of the brokerage firm.

Can this be negotiated upfront with the broker?

What is the common practice for these situations?

Most Popular Reply

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2,714
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1,554
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Lynn McGeein
  • Real Estate Agent
  • Virginia Beach, VA
1,554
Votes |
2,714
Posts
Lynn McGeein
  • Real Estate Agent
  • Virginia Beach, VA
Replied

Her choice of broker is very important.  She should ask these questions before hanging her license anywhere.  If she has already signed on with someone, she should know the terms she signed on with.  If they don't meet her needs, she should switch before she gets too involved with business as it can get complicated when switching brokers.  If she hasn't chosen yet, she needs to have a list of important questions about commission splits and special circumstances (just family member discount so you wouldn't qualify as not related?, etc.) leads, training, mandatory office hours and meetings, etc., so she can find a broker that fits her needs.   

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