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NY Lawyer

Started by Consigliere
almost 14 years ago
Posts: 390
Member since: Jul 2011
Discussion about
Can a licensed NY Lawyer, when negotiating their own purchase for property in NY State, take a brokerage commission.
Response by front_porch
almost 14 years ago
Posts: 5324
Member since: Mar 2008

I am NOT a lawyer, so I can't give legal advice, and I would recommend that you check with an attorney.

However, I believe that the answer is no: it's self-dealing. When agents buy properties, for example, we don't take buyer's side of the commission. What you can do is use the fact that you're not paying out that half of the commission as leverage to negotiate on purchase price. What you can do on that end is of course going to be somewhat constrained by the listing agreement the seller has with his/her broker, and they're all different.

ali r.
DG Neary Realty

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Response by Ottawanyc
almost 14 years ago
Posts: 842
Member since: Aug 2011

Nope. They're lawyers. Brokers can't charge legal fees either. But lawyers do get exemptions from some of the requirements to write the broker test? Ethics part must be tough.

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Response by azemaitis
almost 14 years ago
Posts: 21
Member since: Jul 2010

You failed to mention whether they are a licensed broker. If not, I believe the answer is a definitive "no."

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