Connecting Buyers and Sellers of Philippine Real Estate
Is it justified to share broker's commission with the buyer?
I was just told by a new broker friend that she is proud of her success in business of over 40 years even though she had to share her commission to buyers especially in big ticket deals. She justifies this practice by the result: success in closing most of her deals and her ability to share her commission to her less fortunate agents. "Everybody happy" she says.
In another case, I was encouraged by a developer to share my commission to a buyer because the only remaining issue in closing the sale is the price.
Is this practice justified?
In another case, I was encouraged by a developer to share my commission to a buyer because the only remaining issue in closing the sale is the price.
Is this practice justified?
Replies to This Discussion
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Permalink Reply by Mike on -
Perhaps we should revisit the Realtor Code of Ethics.
You can read it here:
http://www.balikbayanhomes.com/profiles/blogs/are-you-really-a-real...
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Permalink Reply by sharon rose canta on -
As a professional it is improper to share your commission with a non-professional in particular the buyer. As embodied in the code of conduct of realtors, it is our duty as a professional to conduct ourselves in a manner that is worthy of our calling and refrain from conduct that is prejudicial to the profession as a whole. It amounts to touting which is thuggerish and conduct unbecoming of a professional realtor.
On the moral consideration, particularly in the context of Overseas Filipino buyers, they ought to learn to be gracious to other less fortunate Filipinos who are still struggling in this country. The lack of graciousness is the root of the problem. In a similar vein our country will never progress and remain impoverished at the behest of the more blessed overseas Filipinos. They ought to empower blessings to flow in this country and help to deliver this country from the brink of poverty.
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