Q: Is it worth getting a real estate license if I just want to buy a house for myself? How much commission would I probably be able to get?

A: You're talking about a lot of work for just one piece of a half of a commission. Figuring a sale of $150,000, a typical resale commission might be 6 percent to 7 percent, totaling about $10,000. If half goes to the listing broker and half to your broker and you are on a 50/50 split, you might get $2,500.

By the time you have taken the salesperson's pre-license course, studied for and passed the exam, interviewed and found a broker who will hold your license even though you don't plan on working as an agent and done everything else to fulfill the requirements, it hardly seems to be worth your time.

Perhaps worst of all, you are cheating yourself out of the experience and knowledge of an agent.

Q: If I am buying a house directly from a seller and the seller has his house listed with an agent, why can't I just offer 3 percent less, since there is no second agent to split the commission?

A: Because in most cases the seller has already agreed, in writing, to pay a certain commission to the listing broker, regardless of whether or not another agent is present.

The listing broker is happy to pay a co-op fee of 50 percent of the commission to your broker but will typically collect the full commission when no other broker is present. If you had a broker working with you on the purchase, he could typically expect to be compensated. But the listing broker will likely not be willing to reduce his previously agreed upon brokerage fee for you.

Q: Is there any way for me to pass the real estate exam and just work on my own property? That way, I wouldn't need a broker and could just represent myself. Also, I would want to keep all the commission.

A: Unfortunately, the license law in Georgia will not allow your scenario.

In Georgia, once you pass the appropriate pre-license courses and examinations, you are required to find a broker to hold your license before it can become active. Your broker is responsible for all your acts as a salesperson, and all transactions are performed in the name of your broker.

If you only wish to buy and sell real estate for your own account, you are not required to have a real estate license. You need a license when you offer to perform the services of a broker for others for a fee.

If you were to buy a property and try to get part of the commission paid by the seller, you are asking to be compensated by the seller for helping in the sale. That requires licensure as a real estate salesperson.

So for you to get a commission, you must be licensed, and in order for you to be licensed, you must have a broker. Brokers and associated salespeople can negotiate deals to meet their needs.

In a traditional brokerage firm, you might begin your career under a 50-50 commission split with your broker and seek a more attractive split as your experience grows.

In a "100 percent commission" brokerage, you would typically pay a monthly fee of between $1,000 and $2,000 as a base charge for the broker to hold your license, then you would be allowed to keep all (or most) of the commissions you earn while representing that broker. Once again, the amount you might pay and the percent you would keep would be entirely negotiable.

Your scenario cuts out the broker entirely and would only be possible if you were, in fact, a licensed broker yourself.

Interestingly, brokers in Georgia are allowed to have multiple licenses. They can have one license with a firm where they are the principal broker and additional "associate broker" licenses with other firms.

This allows agents who are brokers to maintain their own company to handle their personal real estate business and still be an associate broker with a firm offering full services.

Georgia law requires a broker to be at least 21, have a high school diploma or equivalent and have served at least three years as an active real estate agent. In addition, a broker's pre-license course must be taken and a broker's exam must be passed.

For more information about obtaining a real estate license in Georgia, visit the Georgia Real Estate Commission Web site at www.grec.state.ga.us or call it at 404-656-3916.

  John Adams is a broker and investor. He is the host of the "John Adams Radio Show," a call-in program dealing with homeownership and real estate, airing from 1 to 3 p.m. Saturdays NewsRadio 640-AM (WGST). For more real estate information or to make a comment, visit www.money99.com.