I am a real estate agent in FLorida. can i buy investment property for myself and collect a commission check?

Question

am i entitled to a commission for a property purchased for a personal investment? it will be a sale but it will completely be worked for my benefit

Answer 1

Every state is different. Why don't you ask another real estate agent in Florida. Check with the licensing board. If you are trying to pull a fast one and get paid both ways, consider what it would cost you if you were caught.

Answer 2

Who will pay your commission? The only way I see it as being possible is if you are incorporated as a business. You could then purchase the property, put it in the corporation name, then pay yourself a commission as agent from corporate funds.

The property would still be yours, you make a commission, and be able to write it off on taxes next year. However, as the agent earning a commission, you'd still have to claim it as income if you file personal taxes separate from business taxes.

Answer 3

You had a class on this and you were tested on this exact topic.

As a refresher, of course you may earn a commission and to do

so, you need to DISCLOSE on the purchase contract that you

are a licensee.  If you did not do so on the purchase contract, you

are liable ALREADY for licensure loss or censure.

I am not kidding.

If this disclosure is not  on the purchase contract now, call your

broker and get that taken care of.  The broker can be sued for

non supervising you!

Answer 4

Yes. I collected a commission check when I bought my house, no problem.  

Answer 5

If you don't know the answer to this question yourself, then you DEFINITELY shouldn't be allowed to represent someone else in a real estate deal. Do the world a favor and turn in your license!