From the desk of Ronnie, REALTOR®.
AGENT BONUS! I DON’T THINK SO!
How many times a week do we get flyers advertising $$$$$$$ Agent Bonus?
Are you aware you cannot pay a bonus to an agent? We need to go back to our Pre-Licensing class and remember the section on Brokerage. We are associated with a Brokerage, and that Brokerage owns all our listings and Buyer clients. When a listing gets sold, and the commission is paid, it is paid to the Brokerage, and the Brokerage then passes your share along to you. Likewise, if you were paid by a Buyer under some separate agreement with the Buyer, that commission would be paid to the Brokerage, and it would then pass through to you based on your commission split with your Company.
The same pass-through from the Broker to you applies also to Agent bonuses. A bonus cannot be paid to you; it must be paid to the Brokerage, and the Brokerage, through their Independent Contractor Agreement with you, passes along either the whole bonus or some portion of it, whatever your company policy dictates.
So let’s get those flyers right. The next time you’re offering a bonus, the flyer should read: $$$$$ Bonus to selling office (or selling broker) or $$$$ Agency Bonus or $$$$ Broker Bonus. When the bonus is paid at time of final settlement, the Broker, in accordance with your company policy, will either pass it in whole to you or share it with you.
And, oh, don’t forget. If you’re receiving a bonus, you need to disclose that to your client! Check out Article 1, SOP 1-13 of the Code of Ethics!
|July 25, 2018|
|Flood Insurance Passes House by Large Margin|
House lawmakers passed a four-month extension of the National Flood Insurance Programtoday in a bipartisan, 366-52 vote. Action now turns to the Senate. Once the Senate votes, the bill goes to President Trump for his signature. Program authorization expires July 31. About 105,000 REALTORS® sent letters to their members of Congress urging action under NAR’s Call for Action, which will end once the Senate votes. Thank you to REALTORS® for their advocacy on this issue, which affects real estate transactions in more than 20,000 communities across the United States.
This Week: An *Awesome* Way to Get Listing Details
Answer: Check out the video below for information on how SentriSmart integrates with your listing data to keep you informed about a property from the second you walk through the door.
2018 MEMBERSHIP BENEFITS
Professional Real Estate Trade Association
Association Dues ($260 for Members billed October 1 and due by October 31)
- Professional Staff (Association Executive, Director of Professional Development, Communications Coordinator, Administrative Coordinator and Membership Services Coordinator)
- High quality education classes with a variety of local and regional instructors
- Association facility with meeting rooms and professional offices
- NAR trained Professional Standards Administrator
- Code of Ethics enforcement ensuring a higher level of professionalism
- Over ten committees to focus on issues concerning Bylaws, Professional Standards, Professional Development, Finance, Public Policy and Rental Affairs
- Networking opportunities with other real estate professionals
- An active Community Service Foundation with multiple mixers and a gala
- Young Professional Network (YPN) events
- Spring Hospitality Fair for rental members
- October General Membership meeting
- Meeting facilities for committee meetings and Association functions
- Broker meetings to increase participant knowledge and information
- RPAC events to fundraise for local, state and national issues
- Asset management to protect the Associations financial interests
- Association Management Software to assist with tracking membership records and education classes
- Database of Professional Affiliate Members who provide a wide range of services
- Weekly communications: Monday At-A-Glance, Tech Tip Tuesday, Lockbox Thursday
- Monthly SCAORcard with comprehensive membership information
- Association website scaor.com and social media platforms such as Twitter and Facebook
- Route 9 LED sign promoting events and the trade association
- Participation in municipal and county government issues
- Market and advertise the Association at community events
Association Owned Lockbox Key System
Lockboxes Fees ($125 for Members and $150 for Non-Members, billed June 1 and due by June 30)
- Management and maintenance of 5,000 SentriLock wireless Bluetooth lockboxes
- MLS Committee to enforce and educate members about wireless lockboxes
- October Association Lockbox Audit