75 curlew towns . What if the broker promises kickbacks and goes back on his promises? In an active market, salespeople and brokers trying to stand out may offer kickbacks or other incentives to attract potential buyers and sellers to cooperate with them.Please Visit: 75 curlew towns to Get Your VVIP Registration Today!
If you choose to cooperate with a broker because the kickbacks offered are attractive, there are a few things you should consider before committing to cooperate.
The rule for brokers and salespeople is that everyone must be treated fairly and honestly and be responsible for their financial commitments. In other words, if their promises or agreements are business-related, they must stick to them.
First of all, the real estate representative must be clear about the details of the rebate. After the transaction, will the kickback be transferred to you through the brokerage company, or will your agent pay you after receiving the commission paid by the company? A clear understanding helps to avoid misunderstandings or conflicts in the future.
Second, if a real estate professional makes a promise to you, get written kickback details. A written document can be attached to your agency agreement with the broker or as a completely separate document.
Either way, please read and thoroughly understand before signing. If you are unsure of the agreement you have entered into, please seek independent legal advice.
If you finally sign the agreement, the exchange of documents will be used as a reference for checking the rebate terms.
Even if there is a written form, differences may arise. If you cannot resolve the dispute with the broker, the next step is the brokerage company responsible for ensuring that employees comply with provincial legislation and company rules. Also, keep in mind that your agency agreement is signed with the brokerage firm, not with the brokerage individual.
If the dispute remains unresolved after talking to the broker, or if you are still not satisfied with the outcome, you can tell the RECO.
In some cases, once we assess the situation and evidence, the complaint may apply to the settlement of the dispute. Sometimes it is possible to solve the problem through “mediation”, which is a good way to focus on solving the problem through mutual agreement between the parties concerned.
Depending on the circumstances, when we receive a complaint, we may also take steps to take disciplinary action or sanction against the salesperson or the brokerage company.
One last note about kickbacks: the cheapest deal is not necessarily the best deal. Kickbacks are tempting, but it’s best to make an appointment with multiple professionals before hiring a real estate professional.
