Hello everyone…I’m taking my re exam in houston in about a week…and i’m curious to know that once i pass the exam, hang my license with a local broker… what are the advantages in selling my personal residence as a realtor??
1)commissions?? since i’m the seller there would be no commissions paid since seller pays for commissions…so i save on that part…
2)property exposure on mls???
thanks and any responses will be appreciated,
“1)commissions?? since i’m the seller there would be no commissions paid since seller pays for commissions…so i save on that part…”
Probably not true…usually, the commission for real estate is 6% --the selling realtor typically gets 1.5%, his/her broker gets 1.5%, the agent for the buyer and their broker get 1.5% each. Don’t look to save the entire 6%. If you work it out ahead of time, you will more likely save 1.5 to 2% as a seller.
You might be able to work a deal with the title company for a discount on the closing…if your brokerage does volume with them.
i see…thanks for your response and i stand corrected… everyone deserves their fair share which is fine with me…it’s fine because we’ve aquired enough equity to make around 45-50k at closing…we’ve lived and rehabbed our home for a little over 4 years so it’s been a good investment…and getting my realtors license i’d like to find deals on mls, preforeclosures and do it over and over again…great site with good people like you teaching us newbies …thanks alot