If I am getting real estate license of my own, do i still have to go through the agent I was using before? How

Question

This is in Pennsylvania, and I am wondering if I was previously working with an agent to buy a home and that deal fell through, how long do I have to wait before I am my own agent? I would rather keep the commission for my self.

Answer 1

You can be your own agent immediately.  The other agent was new herself at one time .  She will understand. /

Answer 2

on the buying end, you only "hire" a buyer's agent for the one property - if you didn;t buy that property, you don;t have to use them in the future - whichever agency you hook up with may have issues if you are using their facilities and not giving them their 1/4 of the commission

Answer 3

You don't have to use an agent to purchase a home. If you purchase a home that is listed with an agent, however, they seller will be paying a commission, and that increases the price of the house.

If you look at "For Sale by Owner" properties, you should be able to get a slightly better deal since no commissions are being paid, but be aware that using a real estate agent usually makes things go more smoothly.

Answer 4

Those classes you’re taking/will take will cover a ton of legal issues including the scope of buyer’s agency agreements.  It would be better to learn the rules from your own state than a bunch of message board guesses.

Just keep in mind you will have to work under a broker to work as an agent (even for yourself) so you will have to split the buyer’s agency commission with your broker.  You must completely the classes, pass the state test, pay some professional dues, and get a broker to hold your license before you can represent yourself.

Answer 5

Don't know how it is in PA but  in NJ you must work through a "broker" who has a "broker's license" even if you have your realtors license

Answer 6

If you worked with an agent already for this house they will still get their commission.

After you get your license you still have to hired by a broker for the license to be valid.  If you bought a different house you would still have to split your commission with your broker, who is covering you legally.