“Can I provide a Stanley cup as an incentive for buyer agents?”
January 24, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section.
Q: If I have a residential listing, can I offer and advertise a Stanley cup as a bonus to the buyer’s agent at closing?
A: Yes, you can offer incentives to buyer agents. However, even if the incentive is something tangible (like a Stanley cup) or intangible (like a commission rebate), it should be noted on the settlement statement so that the lender is aware of it.
Have a question about this article? Submit it to the Legal Hotline!
The Legal Hotline is a member benefit that has been supporting members for over 25 years. Our team of lawyers answers your important questions about real estate transactions quickly and accurately (usually within three business hours!).
Here are some tips to help make the Legal Hotline work for you!
You might also like…
“How can I find out what changes are being made to Standard Forms for the upcoming year?
By Santiago Montalvo - December 19, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section. Q:… Read More
“What happens if a purchaser receives a Resale Disclosure Certificate in improper form?”
By Sean Olk - December 17, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section. Q:… Read More
Corporate Transparency Act on Hold
By Jon Haley - December 16, 2024
If you’ve followed any of our resources, you’re hopefully aware of the Corporate Transparency Act (or CTA). This act, which became law in January of this year, requires… Read More