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Updated about 7 years ago,
Any rehabbers that are licensed? Need brokerage advice
I am a licensed agent in Colorado and regularly flip houses, in fact it is the primary focus of my business. My current brokerage wants to take a split of my commissions on deals that I wholesale (on market). For instance, if I find a deal that is listed on the MLS for a $10K commission and I wholesale it to another investor, the brokerage wants to take a 30% split on that commission ($3K).
I am not okay with this since I am the one making that deal happen, it just happens to be listed on the MLS. I have an option to go with a cheap brokerage ($250 or $300 per transaction), but I really do like my current brokerage except for this new issue.
I am looking for advice on what other arrangements active rehabbers that are also licensed have as part of a deal with their brokerage...
Thanks!