Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

211
Posts
262
Votes
William Walker
  • Investor
  • Wilmington, NC
262
Votes |
211
Posts

Splitting a fee with a realtor on new construction

William Walker
  • Investor
  • Wilmington, NC
Posted

I'm currently looking to purchase a new construction house. I've gone through the preapproval with a lender and don't have an realtor so the lender recommended one to me. Since then the realtor hasn't done anything other than send me the MLS. I've literally never met the realtor, I called her about a lot and she told to call the listing agent to find out more about the property. I've never signed a contract with the realtor either.

So I found a new construction neighborhood (outside of the MLS) and have met with the person that works in the model home. We have looked at lots and I would be picking the lot, picking the home design, and picking the upgrades. The person that works for the builder has told me specifically that if I don't work with a realtor, it makes no difference to me financially. I won't get any incentive from the builder to not have a realtor. But if I use a realtor then the builder will pay them commission, I'm assuming 3%. I'm look at houses in the 350-375k range so 3% would be over 10k. This all brings leads to the question of, can I just use a realtor that is willing to split the commission with me? Get rid of the current realtor that I have and find someone who basically just says "I'm his realtor" and gets a big chunk of money. Are there any legal issues that I should be aware of? I was thinking that I would have a small contract with the new realtor that lays out who gets what % of the commission, and I'm assuming the builder pays the realtor and then the realtor would pay me.

Most Popular Reply

User Stats

23,418
Posts
13,509
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Ask for “upgrades” equal to, or a little less than the commission.

Loading replies...