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Updated over 3 years ago on . Most recent reply
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Flippers with Real Estate Licenses - Commission handling
I'm in the midst of gaining my license, and I'm wondering how those of you who are licensed who also flip handle your buying and selling commissions.
1. When buying a property do you offer dual agency to the listing agent, represent yourself and take the commission, or waive the commission as a bargaining tool?
2. When selling your flip do you list the property yourself and only offer 3% to a buying agent?
Most Popular Reply
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@Todd Williams last one i bought i waived the buyers side commission.
When I listed my spec home i offered buyers side commission and then gave my brokerage what would have been there split on the list side. I had what would have been my split add to sale proceeds so i do not have to pay earned income on commission.
There was a recent discussion here where i was informed I am an idiot for not taking a commission on my purchases but i was happy since i negotiated more savings on the sale price than what would have been my commission.