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#68632 - 01/01/07 09:30 PM Agent advertising cash back or referral fees
zeth Offline
Member

Registered: 12/20/06
Posts: 74
Loc: Atlanta, GA
Is it ethical for an agent to advertising cash back or referral fees? There is a broker/agents that advertising that they offer buyers 20% cash back at closing if they purchase a house from them or 20% if they refer a client to them. Is this right? Thanks.

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#68633 - 01/02/07 07:13 AM Re: Agent advertising cash back or referral fees
Carole in Atlanta Offline
Junior Member

Registered: 01/01/07
Posts: 5
Loc: Atlanta Georgia
Are you also from Atlanta? I am sure it's illegal in Georgia to offer a kickback but I am not certain about other states. If you saw that here in Georgia, turn 'em in to the real estate commission.
_________________________
Carole Mellin, GRI, CRP
Atlanta North, Northwest, Intown

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#68634 - 01/02/07 09:03 AM Re: Agent advertising cash back or referral fees
zeth Offline
Member

Registered: 12/20/06
Posts: 74
Loc: Atlanta, GA
well the broker is all over the states. If you check zip realty website you will see what I'm talk'g about.

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#68635 - 01/05/07 01:37 AM Re: Agent advertising cash back or referral fees
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
Depends on the real estate laws in the state they operate in.

Some state allow cash rebates and some, like Tennessee where I am, do not allow cash but you can rebate non cash items such as gift cards or closing costs (I know, I know, it's cash but the buyer doesn't get the actual dollars in hand :rolleyes: ) .
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

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