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Updated almost 12 years ago,
Buying/selling as realtor / MLS access question
So many RE investors have their own broker license for one reason or another.
I was looking into that and have a couple of questions that I couldn't figure out yet.
1. If you buy as a broker, are you still entitled to the commission? I was reading that for REOs and short sales the banks often don't pay it if the buyer is also the broker. Any real world experiences?
2. If the buyer is an investment LLC, but the broker is also a member of the LLC, does that change the picture? What if the broker's wife buys it, then after the purchase the owners are "adjusted" on title (apparently no fee for this in marriage situations).
Course and exam fees of about $1500 could be easily offset with the first purchase if situation 1 or 2 would work.
3. Independently, how does MLS access work? Does one have to be a member of the (or a) realtors association? Quarterly or monthly fees? Could I just pay a quarter, and then skip one if I don't need/want to make a deal? Or is it like DISH network and they have you on the hook for min. 2 years?
I realize there may be differences for various MLS, (looking for southeastern WI here), but just trying to get some input from people who have done it.
THanks