When an agent offers a cash bonus or other valuable consideration (like a gift certificate or a car) for a co-broke sale by "X date" :

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Virtual Realty Consultants, Making the American Dream a Reality (Virtual Realty Consultants LLC)

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Rainmaker
1,677,946

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Uncle Sam get's his cut.

Jun 10, 2015 09:21 PM

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1

John McCormack, CRS

Albuquerque, NM

Rainmaker
1,772,017

Noah Seidenberg

Coldwell Banker - Evanston, IL

Chicagoland and Suburbs (800) 858-7917

We can only take finds in a check made out to our brokerage. I get my normal split on those gifts.

Jun 10, 2015 01:44 PM

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1

John McCormack, CRS

Albuquerque, NM

Rainmaker
3,986,473

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

Normally the Broker gets a sp;iot...It is in all reality a commission.

Jun 10, 2015 01:36 PM

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1

Chris and Dick Dovorany

Naples, FL

Rainmaker
3,074,716

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Coldwell Banker Realty

Roy nailed this one!

Apr 15, 2018 05:45 AM

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Rainmaker
4,768,431

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Broker always gets it before it reaches me.

Jun 11, 2015 01:30 AM

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Rainmaker
8,199,828

Roy Kelley

Retired - Gaithersburg, MD

These situations should be covered in the written agreement with your broker. All of the cash compensation is usually included in splits. The broker will not be asking to share the Starbucks cards you receive.

Jun 11, 2015 01:18 AM

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Rainmaker
1,466,257

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Virtual Realty Consultants The agent can't offer a cash bonus or other valuable consideration. Only a broker can offer incentives. Yes, expect a 1099.

Jun 10, 2015 11:31 PM

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Rainmaker
699,327

Chris and Dick Dovorany

Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL

Broker/Associate at Premiere Plus Realty

A bonus is always subject to tax. It's income.

Jun 10, 2015 09:04 PM

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Rainmaker
5,151,970

Richard Weeks

Dallas, TX

REALTOR®, Broker

That depends on the brokers policy. I have seen it go either way.

Jun 10, 2015 09:02 PM

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Rainmaker
2,759,862

TeamCHI - Complete Home Inspections, Inc.

Complete Home Inspections, Inc. - Brentwood, TN

Home Inspectons - Nashville, TN area - 615.661.029

Good morning virtural. Interesting answers to your question. I learn a lot in the Q&A section.

Jun 10, 2015 07:09 PM

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Rainmaker
345,180

Yolanda Hoversten

Self Employed - O'Fallon, IL

Referrals for O’Fallon, IL & the Metro East

Regulation says licensee gets to keep the bonus whole, but broker policy prevails, and so there's a small fee involved.

Jun 10, 2015 04:40 PM

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Rainmaker
2,234,865

Debbie Laity

CinaJones Real Estate - Cedaredge, CO

Your Real Estate Resource for Delta County

It doesn't make a difference to me. I'm working for my clients. I have seen bonuses offered, but that situation has never worked out for me. So I don't know how that would be handled.

Jun 10, 2015 04:20 PM

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We can only take finds in a check made out to our brokerage. I get my normal split on those gifts.
Normally the Broker gets a sp;iot...It is in all reality a commission.
These situations should be covered in the written agreement with your broker. All of the cash compensation is usually included in splits. The broker will not be asking to share the Starbucks cards you receive.
Virtual Realty Consultants The agent can't offer a cash bonus or other valuable consideration. Only a broker can offer incentives. Yes, expect a 1099.
That depends on the brokers policy. I have seen it go either way.
Good morning virtural. Interesting answers to your question. I learn a lot in the Q&A section.
Regulation says licensee gets to keep the bonus whole, but broker policy prevails, and so there's a small fee involved.
It doesn't make a difference to me. I'm working for my clients. I have seen bonuses offered, but that situation has never worked out for me. So I don't know how that would be handled.