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Old 07-15-2008, 09:15 AM
 
Location: exit 0
4,887 posts, read 3,520,098 times
Reputation: 6370

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For Michigan Realtors:

Is it legal in Michigan for a seller to offer an incentive or a bonus to the agent that brings in an acceptable offer, say maybe a few thousand above their commission?

I have used this strategy in the past in a few other states. Hope someone can speak to this.

Thanks,
Ginnie
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Old 07-18-2008, 05:30 AM
 
Location: Palm Coast, Fl
2,249 posts, read 8,459,117 times
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I'm not in Michigan but looking online I can see that it's being done. I don't see why it would be illegal anywhere...it's just part of the commission structure you're offering out.
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Old 07-18-2008, 09:57 AM
 
Location: DFW - Coppell / Las Colinas
38,140 posts, read 42,639,952 times
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It should be legal, we do it here all the time and it works. Nothing like a little bonus money to get someones attention.

That's why builders do it.
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Old 07-18-2008, 02:46 PM
 
Location: exit 0
4,887 posts, read 3,520,098 times
Reputation: 6370
Thanks. I have found out that it is legal.

What called it into question was I had been talking to a Realtor and she said that they were not permitted BY LAW to accept gifts and that that included incentives. I didn't think she understood that this type of incentive is shared with the broker and that it is all done at closing. Hence,taxes are paid. And you know that states and the fed. government will take their "share."
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