Investor · Miami, FL · Member since 2013 · 807 posts · 475 votes
I went and saw a property today that came up on the MLS. I called the listing agent and said I want to submit an offer at list price. So we made plans to meet tomorrow.
Then she sends me a text and asks if I can do bonus commission. I had no idea what that was so I asked what she meant. She texted back that 'some buyers offer bonus commission to listing agent- its totally legal'.
To me it sounds like bribe money.
I'm a direct buyer with no buyers agent so she'll already get a 6% commission as opposed to 3%. Does anyone have any thought about offering a further 'bonus commission'?
That is a shame that unethical practice is the norm in that market. I personally would not perpetuate that practice, even if it meant not being able to pursue my REI interests.
I can't really explain why it is so bad down here. I lived in NY and LA and it's no where near this.
Don't even get me started on contractors. We have heard all the stories about bad contractors, but again down here, is the only place, you will find roofing contractor vans driving around after a hurricane, seeking out elderly people with a broken roof, and offered to repair or replace it, but with a 50% deposit in cash or check, and they "will be here tomorrow bright and early". Truly low.
Hi
I licensed realtor in NY and I don't think it's legal in NY to ask for more money to go directly to the agent.
If it is on the mls there is set commission. I had agents ask for kickback from me as a realtor to get deal for my client and I informed him let's take to the board see what they say, it was dropped.
I know in my mls it's not legal.