@Noi K. a lot of brokerages have gotten aggressive with their listing rates, which vary SIGNIFICANTLY between brokerages and even agents within those brokerages depending on level of autonomy.

In 5 years I went from just getting my Real Estate license to handle my own deals to running a brokerage with 60+ employees & a $50M+ management portfolio.........In short, get your license dawg.

Back when I was doing multifamily brokerage we occasionally came across some great deals on LoopNet that were posted by brokers who severely under-priced them.

there is nothing the other can or can not do.A Direct writing agent, who represents a single company, and per their contract cannot sell other insurance carrier products, may be giving a bias very point.Just find an independent Broker/Agent and you can get access to multiple insurance options.

I am not an attorney, but I am managing broker of a VERY SMALL real estate brokerage in Colorado where I work.

The smaller boutique brokerages are Houston Income Properties and KET. 

Very glad this one worked out for you.You numbers also help me verify something I have been tossing around in my head, you being a broker/agent certainly sweetened this deal up for you - if you would have had to give up 3% on the acquisition and sale side, the margins would have been much tighter, and perhaps you may not have even pursued?  

If my understanding is correct the banks will further break them down into smaller pools and continue to sell them off to other smaller banks and brokerages where they would be available (as pools or one-offs) to individual or small team investors.

Do I need to be under a brokerage?

My brokerage has a separate arm for property management.