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Updated almost 10 years ago,
Wholesaling Real Estate With License - How commissions/fees are handled?
I have been building my wholesaling business for about 7-8 months now and have successfully closed 9 deals so far. I'm trying to find a real estate brokerage to hang my license with and have hit a little dilemma and trying to get some assistance.
I've spoke with a brokerage company that wanted to speak with our state association of Realtor legal hotline before signing me up and have come up with this scenario:
Any wholesaling fee or commission must be run through the brokerage company.
I can understand the commission, however, the problem I have is the fact that they need my wholesaling fee to go through the brokerage company as well??? Mind that I have been doing this without a license for months now. Is this common with Wholesalers that obtain their Real Estate license.
I feel like they are trying to collect both ends of my money.
Keep in mind, my decision is to do both!