Can i be my own broker and keep 3%?
Started by eric_cartman
over 17 years ago
Posts: 300
Member since: Jun 2007
Discussion about
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I am in the market to buy, and don't believe a buyers broker will add value. My wife is on the loose end and might have time to spend to get a broker's license so she could act as my "broker". That way, we can keep the 3% commission, which, on a $1M place could be $30K (no chump change). Is this a feasible option? 1. Are there rules against brokers buying apartments for themselves and keeping 3% comission? 2. How long does it take, and how much does it cost for a reasonably smart person to get licensed as a broker in NY? Thanks Eric