Expert: Sue Bernstein - 5/18/2008

Question
I am a newly licensed real estate agent in California. I am also licensed in Texas. My broker indicated to me that if I buy a house for myself, I will not earn the commission payable by the seller. This is not true in Texas. I don't think my broker knows much and am thinking about changing broker. My question, therefore, is that can I earn a commission buying the property for myself to live in (not investing) whether it is private owned or bank owned?

Answer
Dear Long,

Yes, as an agent you can collect commission when purchasing property.  There are instances such as some foreclosures or sales overseen by the court where they will not pay commission to agents purchasing for themselves.

Hope this helps.

Sue Bernstein