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I'm not sure if I understand the question. I am licensed here in California, so I'm not really qualified to answer your question as you reside in Michigan. As far as California law goes however, if you are not licensed then you are not entitled to a commission. If you are not licensed than you cannot represent the buyer or either principal for that matter, it is illegal. As far as commissions, they are negotiable. Six per cent here in California is on the high side, given the relative high values of property. Five per cent is more typical. Commissions and percentages must be fully disclosed in writing as is the disclosure of agency. That overall per cent is split (not necessarily 50/50) between the listing and the selling agents and or their respective brokers. The business of Real Estate is highly regulated given large sums of money involved and the potential for fraud. I would imagine the laws in Michigan are similar.
Last edited by ed martin; 11-20-2006 at 11:09 PM..
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