If a real estate agent is representing themselves as Buyer’s Agent in the purchase of a property and credits/rebates their commission to themselves.
The rebate is regarded as a reduction in the purchase price of the home and is not taxable income to the buyer.
Can a Realtor represent himself?
Technically no. A person holding a real estate sales persons license can only represent the broker. A client, whether they be a buyer or a seller has a contract with the broker. The agent, then acts on the brokers behalf in assisting the client (in this case themselves) to buy or sell a property.
Can a Realtor purchase their own listing?
Can a real estate agent buy their own listing? Yes they can. In fact many brokerages make that a part of their sales program. “If it doesn’t sell, we’ll buy it.”
Can a Realtor waive their commission?
The only thing to consider is that the listing agreement is not between the listing agent and the selling agent, but between and the listing and selling broker. Some brokers may not allow their agents to waive the selling commission.
Does the realtor work for the buyer or seller?
Representing Both The Buyer And The Seller. With dual agency, the Realtor takes on the role of buyer’s agent and seller’s agent at the same time in a specific transaction. A home is for sale. The Realtor offers to sell the home for the seller, while also offering to represent a buyer who is interested in the home.