Brokers want a % of my personal investments

[John Princinsky]

So I am considering getting my RE license in Michigan, but all of the brokers keep telling me I would have to go through them (and pay them their split) on personal investments/ purchases if I have my license. (With small exceptions: 1 property/ year, ect..)

Does anyone know if this is accurate? I feel like it just sounds like a way for the broker to ensure they get a cut- if I'm representing myself, why should I have to use a brokerage? I can't seem to find any law that states the need to, yet the brokers all seem to insist that I would need to go through them for my own investments.

What am I missing here?

[Mark Ferguson]

Almost every brokerage has the same policy. If you want to get around it, consider the no service brokerages that only charge monthly fees and have no split.