A broker enters into an Exclusive Right-to-Buy contract with a purchaser. The purchaser finds a satisfactory property and makes an offer, which is accepted. The listing broker is unavailable during much of the transaction and the selling broker performs several of the listing broker's responsibilities. In gratitude, the seller offers a $500 bonus to the selling broker. When is it acceptable for the broker to receive this money?

Question

Cannon Adkins

Business

18 March, 04:40

A broker enters into an Exclusive Right-to-Buy contract with a purchaser. The purchaser finds a satisfactory property and makes an offer, which is accepted. The listing broker is unavailable during much of the transaction and the selling broker performs several of the listing broker's responsibilities. In gratitude, the seller offers a $500 bonus to the selling broker. When is it acceptable for the broker to receive this money?

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Nico Ochoa · Answer 1

The buyer doesn't have any obligation to give a bonus to the seller's agent, nor the seller's agent have any right to request some type of payment from the buyer regardless of what tasks he/she performed. But if the buyer decides to give a bonus to the agent because he/she wants to (for whatever possible reason), both parties must fully disclose in writing the circumstances regarding the payment.