I listed a rental property in MLS and offered compensation to other MLS participants. Another broker, who is an mlS participant, saw my offer and filed their client`s leasing application with me. After the owner accepted their client`s request and executed the rental agreement, the broker told me that I had to sign the agreement between the brokers for residential rentals. Do I have to sign the contract? Can an agent accept a bonus directly from a client without the consent of his broker? A cooperating broker wrote an amount of compensation in the broker`s information area on page 9 of the housing contract, which differs from the amount of compensation I offered as a listing broker in the MLS. When I drew her attention to this case, she said that she had always been paid and that she would not change the amount or the practice. Can she? Regardless of when the commission is earned, it is usually paid at the close when the money actually changes ownership between the parties to the transaction. Although there is a difference between the time of payment and payment, a commission, once it is earned, is not undeserved if the agreement fails. A seller may feel uncomfortable with the idea of having to pay a commission if there is no proceeds from the sale to deliver it. A seller may try to speak in a written agreement in the sense that „the commission is payable only if, if and if the title passes“. This eliminates the risk to the seller of a commission if the buyer violates the sales contract, as well as the risk of a double commission if two cooperating brokers submit two compliance offers.
Brokers must be alert to the potential loss of a commission, even if they have found a qualified buyer and, if possible, to fight it with a specific language in a written agreement such as „the commission can only be paid if, if and if the title passes, except for an intentional delay on the part of the seller.“ Check out the TAR 2401 registration agreement between the broker and the owner. This form allows a broker to register the buyer with the seller, and if the buyer buys the property, the seller will pay the broker.