I have been researching what kind of fees we could charge agents that have incomplete transactions. Meaning if they are missing any disclosures or documentation that is legally required the office will charge them a fee. I haven't decided if it would be best as a flat rate fee. How does your office handle incomplete transactions?
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Century 21 Redwood - Frederick, MD
GRI, SRS Your Frederick County Specialist
Roxanne,
We had a pretty simple solution. If the paperwork wasn't complete the agent didn't get paid until it was. The exception was, if the agent had to rely on the agent on the other side who wouldn't cooperate they could put a note in the file stating the other agent refused to comply with requests for documents.
Jul 14, 2009 10:34 PM
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and
Lke Larry, our office will not cut a commission check unless the file is complete.
Jul 15, 2009 03:24 AM
Coldwell Banker Realty - Navarre, FL
Your Family Realtor®
We have an administrative assistant that helps us get all things lined up before closing. That's really hard I am sure with 100 agents.... But she does it.. She's Great! But if, for some reason a document is missing you don't get paid until you get it in the file. But there are exceptions like Larry Riggs said you can't always control the situation.
Oct 11, 2009 02:57 PM
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