I said if the deal goes through in a year or two from now, you can still collect on your commission.

@Ashley Herring, I would contact your local board and ask for sure, but in Colorado, the Real Estate Commission rules require you make it obvious, on any promo or advertising materials, who the broker is, in addition to you (as agent, or licensee), who can also be on the mailpiece, e.g., ReMax Advantage, Ashley Herring, Associate Broker, then your contact info.Beyond that, to avoid commission rules concerning an infraction called, "Sign Crossing," (a rule in Colorado) you should have a disclosure printed on the mailpiece that resembles the following:  "If your property is currently listed, please disregard this advertisement."

I signed up with 100% commissions brokerage and basically work on my own.

Hey Travis,Here's my thoughts on a few things:Selling Costs:  You only have 5% for the agent commissions? 

Agents get paid on commission, therefore, you won’t find many realtors looking to do a “dual agency” agreement because of their risk of not getting paid with commission but still spending a lot of time and their own money trying to find deals, especially if they are not on a team or with the same brokerage."

I really appreciate you time and help.Purchase price in May 2007 = $535,000Estimated sale price = $620,000 (based on conversation with trusted real estate agent)Net Adjusted Basis = $301,546 (taking depreciation into account which is ($535000/27.5) * 12 years = $233,455)Costs of Sale (commissions, fees, etc.) = $62,000 (assuming 6% for real estate agent commissions and 4% for other closing costs)Gross Capital Gain = $256,454Remaining Mortgage Balance = $330,000Recaptured Depreciation (at 25% of total depreciation) = $58,363.5Accumulated Passive Losses to date = $157,000Net Capital Gains (Gross Cap Gains - Losses) = $99,454Federal Capital Gains Taxes = $58,363.5 (All from depreciation recapture. $233,455 of Gross Cap Gains account for depreciation and remaining $23,000 of Gross Cap Gains offset by Passive Losses)Reduction in overall Federal Taxes paid due to remaining Passive losses (assume I pay 25% Federal Taxes on my overall income per year) = $33,500 (there is still $134,000 passive activity loss left after offsetting the $23,000 Gross Cap Gains)California State Taxes (at 12.3% of Net Cap Gains) = $12,233Gross equity = $228,000 (Sale price - Cost of Sale - remaining mortgage balance) Net Take Home Cash = $228,000 (Gross Equity) - $58,363.5 (Federal Cap Gains Taxes/depreciation recapture) - $12,233 (California Taxes) + $33,500 (Fed tax reduction from remaining passive activity loss to offset ordinary income) = $190,903.Does the above seem reasonable to you? 

I did not have to pay closing costs since I used commission towards it.

You can also choose to use your realtor commissions as income so you can prove debt service to a lender with legitimacy, you can subcontract that expense out as well.

I plan to take the real estate agent exam so I can be my own seller's agent and save on commission.

He wants to sell you a property to earn a commission so he doesn’t really care what you buy as long as you buy.