Posted by: Roby Robertson | May 18, 2008

Agent Bonuses Revisited

Lake Norman: Agent Bonuses Revisited

A recent article in the Charlotte Observer brought attention to the disclosure of agent bonuses and in what form.

The North Carolina Real Estate Commission is revisiting the Commission law regarding the disclosure of bonuses. Currently Realtors are required to disclose all compensation regarding a transaction prior to going into contract. However this disclosure is only required to be made orally. The real estate commission is revisiting the law requiring this disclosure to be made in writing prior to going into contract.

Notice the emphasis on the word prior. I believe this is one that has been fully enforced in years past. However, with this issue rising to the forefront, it will be adhered to more closely. Consumers are more and more becoming well informed and will demand it and well they should.

What does it mean to buyers?

Buyers should be informed prior to going into contract how the agent will be compensated. Often times, especially with new construction, agent bonuses are offered as incentives. The buyer should not learn about this at the closing table while reviewing the HUD statement.

What does it mean to sellers?

This is a tough one to define. In reality is should not affect sellers except for in the pocketbook. However, I don’t really like using them. I like being creative in other ways to try and market and sell the home. I am not saying I would not recommend using them but I like to work with my sellers to visit all of our alternatives first and to discuss the pros and cons of each.

Check out these other posts to assist you.

Why Lake Norman is such a great Destination

Buying a Lake Norman Home in These Times

Davidson Another Wonderful Lake Norman Town

Huntersville, Lake Norman’s Progressive Family Town

On the West Side of Lake Norman, Denver NC

Cornelius is a Lake Norman Town Gone from Mills to Upscale Shops

Lake Norman’s Best Kept Secret, Sherrills Ford

Contact your Lake Norman Agent at 704 451 7051 for all your real estate needs.

Roby Robertson

 

Saving My Clients Thousands

Broker/Owner

 

Real Living In Style
Davidson NC

 

roby.robertson@realliving.com
www.LakeNormanRealLiving.com

 

Ph: 704 451 7051
Fax: 704 892 9766

Committed to Saving My Clients Thousands When Buying and Selling Real Estate


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