What about adding a bonus to buyer’s Agent’s commission….does it work? I have a high end property that I would like to see more activity on and have never tried a large bonus style payout….say 2.5% + $50,000. How does this work?
The fiduciary duty of accounting obligates the Agent to report and REMIT the $50,000 bonus to the Buyer.
Then, comes the “discussion”, where will this bonus end up:
1) Buyer (where it sits, legally),
2) Agent, (where it arrives) or
3) some split between the two.
It can often be very effective!
Brian Madigan LL.B., Broker