Topic · 10 policies
Commissions, fees & getting paid
Splits, deductions, draws, E&O fee, referral fees
- 4.27Fees, Bonuses and CommissionsAll monies earned using your license must be made payable to the Company. This includes, but is not limited to commissions, bonuses, fees, referrals, BPO’s etc. You will…
- 4.28DeductionsAll expenses of any kind incurred by you with the Company; or incurred by the Company on your behalf, including unpaid marketing programs, CoStar dues, board dues and/or…
- 4.29Monthly Advances/DrawsIt is the Company’s policy to not pay monthly advances or draws to our salespersons or loan officers.
- 4.44Risk Management and Errors & Omissions (E&O) FeeEach year, the Company shall separately establish and publish the amount to be paid by all salespersons, and the method of that payment, as a Risk Management Fee. This…
- 7.11Negotiating CommissionsWhile commissions are negotiable, the Company reserves the right to set minimum acceptable commissions on listing agreements. Your Manager will advise you of the…
- 7.12Commission ChargesThe Company’s commission charges are as follows: A. Rates and prices of commission charged for services to the public. - Charges to sellers for residential listings of…
- 7.13Advance FeesThe payment by a principal to the Company prior to the performance of services is known as an Advance Fee. All Advance Fee arrangements must be pre-approved by the…
- 7.28Referral FeesThe Real Estate Settlement Procedures Act (RESPA) generally prohibits a settlement provider (real estate agent, lender, title company, etc.) from giving or receiving…
- 7.30Cooperation and Compensation PolicyCooperation and Compensation of Buyer's Agents: The Company believes it is in the best interests of the Company's seller-clients to give the property the widest possible…
- 18.2Associate’s Compensation on TerminationIf this Agreement is terminated while you have any listings or pending transactions that require further work normally rendered by you, your Manager will make…
