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Legal Blog - Compensation and Commission
Legal Blog - Compensation and Commission
Oct 31, 2016
Does the COE provides guidelines in rendering BPO services?
When Realtors® prepare opinions of real property value or price, they MUST be knowledgeable about the type of property being valued
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Sep 30, 2016
Regarding access to the lockbox system
Sellers expect that all other professionals related to a real estate transaction will be limited to access that is under the control or supervision of the agents.
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Sep 27, 2016
MLS properties for sale vs. for rent
The MLS is a forum that not only allows listing brokers to advertise their properties for sale or for rent but also provides them with a means to make offers of cooperative compensation that can be reviewed and accepted
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Sep 20, 2016
REO Commison regarding a licensee
It was the consensus of the Work Group that any listing agreement between a seller and a listing broker that provides that cooperative compensation cannot be offered or paid to a cooperating broker if the purchaser holds a particular license or credential, ...
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Sep 16, 2016
Licensee contract validity
It is possible that a contract written by a non-licensee could be valid, because the fraud and misrepresentation are not being committed by the principals to the contract (buyer and seller) but by one of their agents.
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Sep 13, 2016
I am changing companies, and I currently have properties listed. What happens to those listing?
The listing agreement and the buyer/broker agreement are both agreements between the client and the broker not you, the agent.
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Sep 9, 2016
How do I get compensated when I represent a buyer who decides to purchase a property in an area that is not covered by MRIS, but serviced by another MLS?
In order for a broker to accept an offer of compensation, he or she must be able to access the listing and, more specifically,
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Sep 7, 2016
Bonus Entitlement
MRIS allows brokers to offer bonuses under agent compensation fields. However, because of space limitations, MRIS also further allows a broker to place parameters on the bonus in the agent remarks.
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Sep 5, 2016
Must a lender pay agreed-upon commission on a short sale transaction?
For short sale listing agents and brokers who have struggled with banks to receive the full amount of the commission outlined in the listing agreement, a court in Iowa has offered some hope
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Sep 2, 2016
Can a buyer bring the contractor to the walk-through?
As long as the contractor or home inspector is on the property for purposes of ensuring that work was completed
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Aug 30, 2016
Is a purchaser allowed access to the property to conduct a home inspection for informational purposes only?
If the contract is contingent upon a home inspection and the home inspection addendum is part of the contract, then access to the property is permitted
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Aug 26, 2016
When is the limited access Premises Agreement used?
Purchasers Limited Access to Premises Agreement is used when a purchaser wishes to take possession of the property prior to settlement, but does not intend to occupy the property
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Aug 23, 2016
Can I Enter a Listing in The MRIS that offers zero compensation to cooperating brokers?
The distinguishing characteristic of a multiple listing system is that it serves as a marketplace for competing real estate brokers to offer cooperative compensation to their competitors if those brokers are able to procure a buyer for the listing.
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