Should I get my commission for my investment property

[Tuoi Nguyen]

Hi All,

I wanted to see if there's possibility for me to get my commission.

I am a part time real estate agent (fairly new) with a full time job in IT. My husband and I went under contract for an investment property and we had an executed contract on 3/25. It didn't dawn on my that the selling agents didn't include the commission acknowledgement form and I contacted her for the commission acknowledgement form so i can forward to my banker and I have not heard anything from the sellling agent.

Do you think there is a chance that I will be able to get the commission for being investor-agent representing myself?

[Wayne Brooks]

Were you listed as the agent representing you two on the purchase contract(assuming there is a space for that)? Did the other agent know you we're representing yourselves "as an agent"?

[Brie Schmidt]

That depends. Was this a MLS deal? Are you a member of the MLS? If so then no documentation is needed - your managing broker will be paid the commission and then you will get your split.

If you are not a MLS member and it is a MLS deal then you would have had to have a commission agreement in place with the offer.

If it is off MLS then you would have had to have a commission agreement with the offer.

[Brie Schmidt]

@Tuoi Nguyen

[Tuoi Nguyen]

@ Wayne, I did disclose the information that the buyer is agent representing myself.

[Joel Owens]

Tuoi I do not do residential but commercial.

We have a saying that most part time agent know enough to be dangerous in the business. Brokers/agents doing it full time day in and day out are just performing at a higher level.

Having said all of that in Georgia if you have an active license then you are under a brokerage somewhere. The listing broker is probably using the GAR forms for purchase and sale agreement. FMLS use to have all of them but in some cases broker/agents do not want to pay the annual money now.

On the purchase and sale there should be a place where it says the listing broker IS or IS NOT representing the seller and IS or IS NOT representing the buyer.

Even if the listing broker IS NOT representing the buyer they can perform ministerial acts for the buyer and keep all the commission. There should be also a place in the purchase and sale agreement under disclosure where you should say something to the effect of " Buyer is an active licensed real estate agent in the state of Georgia license # " If you didn't do that you are in violation of GA license law and can get into trouble with the real estate commission. The reason is sellers are not generally trained in contract law so you being an agent without disclosure as the buyer is seen by the GREC as an unfair advantage hence the disclosure requirement.

If this is a small purchase investment property then the listing broker isn't getting much even double ending it. If you are getting a deal I would leave it alone. If you are set on getting the commission you need to fix this now.

No legal advice.

[Wayne Brooks]

@Tuoi Nguyen

I don't know what "I disclosed buyer is agent representing Himself" means. Is it in the purchase contract? Not sure what your "commission disclosure form" is, but if you need it, then you need it.