If I offer an agent a bonus to sell my house faster, does the agent have to share it with the broker?
Sunday, December 06th, 2009 / Joe
Category: sell my timeshare
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Yes, all monies earned by any agent are processed through the broker.
This is the deal, technically your sales contract is with the broker not the agent, as such, the broker controls all distribution of the monies at closing to the sales agent, so yes the broker can get their hands on the bonuses if the broker wants, the agent can not accept monies from you directly
Some clients will offer a gift certificate that way it’s harder for the broker to take a split
You have contract with the broker and agent and the housing market isn’t exactly selling like hot cakes. So you may have to wait just like everyone else!
if no one is making offers on the house or you have it priced too high, a bonus is not going to help
the only thing that will help a house sell faster in this economy is lowering the price
That depends entirely upon the arrangement between broker and his/her agents. In my firm, we allow such bonuses to pass entirely to the listing agent, with a simple 5% administrative fee. Other agencies have different arrangements, with many requiring the same percentage split on the bonus as applies to the regular commission. Thusly, if the agent has (as example) a 65% split arrangement, the same would apply to any selling bonus. Unless your agent is willing to reveal his/her personal arrangement, you will not know.
The reason why we allow such ? It encourages the listing agent to share some of that ‘selling bonus’ with any agent who brings a buyer, thusly increasing the chances of interest from ALL agents.
Absolutely, you can offer a bonus. How that is split amongst the agent and broker is between them. I’m sure the agent would get credit for it in one way or another.
I’d offer a bonus to the "selling agent" that’s the broker/agent that brings a buyer in. If your broker/agent brings in the buyer they they would get it, if another firm brings in a buyer they would get it. That way you are encouraging all the Realtor’s in the area to show your home.