Very good answers listed above but I hope this information might be helpful.
The question regarding a taxable event to the Realtor would depend on how the Realtor commissions are listed on the Closing Statement (HUD).
If the Realtor who represents himself in the transaction as a Buyer Agent did not receive a commission on the sale then there is not a taxable event to the Realtor. The commission would not be reflected on the HUD and you would figure your basis in the property with no commission from the Buyer side.
However, if you did receive a commission on the sale of the property then you should receive a 1099 as income and handle as you would with any other 1099 income as a Realtor. This commission would show up on the HUD and you would adjust your basis in the property for the commission.
