I will be putting my house up for sale within a few months and, consequently, I will be buying a house soon. I have considered becoming a real estate agent for a while and I figured why not do it now and be a part of my own selling/buying process? So, can I legally act as the seller's agent (and be compensated accordingly) for the sale of my own house? Can I also legally act (and be compensated accordingly) as my own buyer's agent when I eventually buy a house?

Great reason to get a real estate license...NOT!

Wouldn't your time and expenses be better invested in a truly knowledgeable agent to take care of your needs?

Obtaining a real estate license does not make someone an instant expert! Years of experience and market knowledge are what you pay an agent for.

The fact that you don't grasp that you'll be paying yourself AND a broker is reason enough to not pursue a license for the purpose you've indicated.

Scott

Thanks for your useless assumptions. I actually have a lot of real estate knowledge including extensive knowledge of both the areas in which I am selling and buying. Sure, this doesn't match the "years of experience" I would be paying an agent for. I never claimed that it did. But to gain "years of experience", you have to start with "days" of experience. But you obviously just started right off with years of experience, so congratulations to you!

As I stated, I have thought about getting my license for a while. The sale of my house is not the sole reason for me getting a license. I would be getting my license eventually anyway. I was just curious to find out whether or not I could legally be my own agent in a sale or purchase. That's all. The answer will not change what I do. You would have understood that if you had paid attention to what I posted. Instead you were busy accusing me of not grasping a concept. I'm sure that kind of attitude helps you as an owner of a real estate company.

I hope you'll reconsider and answer my actual question rather than continuing to act like an internet tough guy. If not, thanks at least for your earlier inconsiderate response. It made me laugh.

Hello
Yes in Virginia, licensee can sell/buy his or her home. We do have a diclosure that needs to be signed by the other party. That's why lot of investor who do a volumne business become agents also. As far as commission goes the broker my take a share. Some broker do allow you to keep your share on your personal home purchase. You should ask that question during initial interview.
If you don't want to make a career or work as part time agetn the cost of fees in long run may not worth the amount of savings on your personal purchase transactions.

Good LUck

campus:

You don't need a license to sell your own property, nor should you pay yourself a commission for doing so!

As for buying property, take the buyers agent side of the commission in the form of a price reduction in the purchase price.

Either case, you must disclose if licensed.

No need to get all pissy about the advice. Take it or leave it if you like. I don't feel the need to justify my experience to you.

I never "assumed" what you posted.. I read that you wanted to represent yourself (as a licensed real estate agent) in selling and buying property and would like to receive a commission... correct? I still maintain that paying YOURSELF a commission out of your OWN proceeds on the sale of YOUR home is not the "best" method.

Scott