Risky business compensation
Richard Weeks brings up the interesting topic of risky business compensation. Using simple examples, he makes a good point on how a violation of the license law can occur.
Every Realtor should give this post a read - short, simple, to the point.
Effective.
Ever been offered unlawful compensation? In Texas all compensation must be paid by ones sponsoring broker, and never directly to the agent.
The Texas Real Estate License Act prohibits an agent to receive payment for a real estate activity directly from anyone other than their broker.
Let’s say a new home builder gives you a $100 give card to show their appreciation for bringing them a buyer. If the builder is not licensed then they did nothing wrong. If you accept the gift card you have violated the license act. Even accepting a gift directly from a seller or buyer would be a violation.
I wonder how many agents think nothing of accepting these items.
Comments(1)