facebookIs it possible to buy your own condo by getting a prop agent license to save on the buyer fees? - Seedly

Anonymous

28 Nov 2019

Property

Is it possible to buy your own condo by getting a prop agent license to save on the buyer fees?

What are some hacks for saving on buyer fees?

Discussion (5)

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Buyers don't pay commission fees when buying new launch condos; the developer pays the agents.

Unless you're banking on the developer paying you to buy a condo...I don't think you'd be saving money. (Pretty sure it'd be a conflict of interest you're legally required to declare anyway.)

And let's not forget the time and $ you're putting in to get that real estate license in the first place. If you took up a side gig instead of spending all that time studying, it'd probably be a better use of your time :)

Ernest Yeam Wee Leong

26 Nov 2019

Content Creator at www.youtube.com/c/JustBeingErnest

If you as the buyer does not want to pay commission to your agent, then your agent can cobroke with the seller agent. If the seller has no agent, then your agent will probably not want to be involved in the transaction since there is no commission paid.

Commission is not neccessary. But if the agent managed to help you save $100k in purchase price, paying them an amount $10k will be worth the investment.

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Kelly Trinh

26 Nov 2019

Backoffice technical at financial services firm

Do you even need the license if acting on own account? If you know the steps; then DIY is possible ...

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