Should I be paid a realtor commission if purchasing in partnership?

[Michael Baradell]

Hey Guys,

Myself and two equal partners just recently purchased a property in which I was the buyers agent. My question is, since this is a partnership, should I keep all of the commissions ( buying and selling )? It was suggested to me by a partner that it would only be fair to concede a portion of, if not all, of the commission as the realtor and put it back into the property, which in turn would basically be split up equally between each partner. Obviously, as a realtor I feel I should and deserve to keep 100% of any commission earned on the property. All suggestions or comments are welcomed.

[Brian Mathews]

It doesn't sound like this partnership is starting off very well. Hopefully not a peak into what the rest of it will be like. As they say, the only ship that won't sail is a partnership. I think Ed had good advice. It depends on how much work you did. What is the purpose of the property? And who will be handling the day to day managing depending on if a rental or flip? If it's a flip, will you or one of other partners be managing the subs or doing the work on it. If so, somebody will want paid for that. If a rental, will you or other partner be the PM, if so, somebody will want paid for that. All this should have be lined out on paper and signed before anything bought to clarify everybody's roles and compensation for said roles.