“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…
“Can cooperative compensation be a condition of the buyer-broker agreement?”
By Ryan Leonard - July 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:… Read More
Your Guide to Tenant Confidentiality According to the VRLTA
By Jon Haley - July 17, 2024
Keeping information received from tenants and prospective tenants confidential is one of your most important responsibilities as a property manager. Luckily, the VRLTA provides a pretty thorough list… Read More
“A home I’m listing borders land where a mixed-use development is planned. As a dual agent, must I disclose this?”
By Sean Olk - July 15, 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.… Read More