Acting as agent and Principal

[Robert Obniski]

Hello all,

I am purchasing a property as the Principal, in my name. I am also acting as the buyer agent. 

Per Wisconsin code REEB 24.05  - It states... 

A licensee acting as an agent in a real estate or business opportunity transaction may not accept any fee or compensation related to the transaction from any person, other than the licensee's client, principal firm, or firm the licensee is associated with without prior written consent from all parties to the transaction

I take full responsibility of not knowing this law. It was incompetence. But I'm here now and I have to deal with it.

 Im reaching out to this community for advice in regards to this situation. In our budgeting, we are absolutely (now more than ever) counting on receiving the stated commission. Unfortunately we don't have anything in the contract regarding paying out commission to the buyers side. 

Who here has dealt with this? Or perhaps found a way around it? Or can think of one?

Help me out!

edit: I have reached out to my attorney already. Im asking for different perspectives.

[Joseph Cacciapaglia]

I don't understand how the quoted text is creating a problem for the scenario that you're describing. Were you trying to do this deal without going through your brokerage? If so, I see why you're having an issue. If not, then just ask your broker what you need to do. In every state that I've worked, getting paid a commission on your personal transactions was allowed, it just needed to flow through the broker. I've never worked in WI though, so I don't know for sure.