Anonymous

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Rainmaker
908,498
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

If you cashed your commission check, you can give it all away if you want. Let me know if you need my mailing address!

Feb 19, 2016 10:40 PM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

With a question like that you should remain anonymous.

Feb 19, 2016 11:21 PM
Ambassador
5,032,261
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

AFTER the close have at it. You can share it with both Jeffs

Feb 19, 2016 11:22 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Depends on the law in your location...

Feb 19, 2016 10:28 PM
Rainer
392,442
Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

How you spend your money is your business, however you cannot make it part of the deal. 

Feb 19, 2016 11:35 PM
Rainer
43,981
Stephanie & John Webb
Latte Stone Realty LLC - Albuquerque, NM
Stephanie Webb Co-Owner, Latte Stone Realty, LLC

Not in the deal however once you deposit and cash your commission check you can do with it as you wish.

Feb 19, 2016 10:52 PM
Rainmaker
846,475
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Like what Jeff Pearl said.

Feb 19, 2016 10:45 PM
Rainmaker
1,046,323
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

You 'may' be OK to credit a party against funds to close/net proceeds in escrow, but be careful about what could qualify as 'paying a comission to an unlicensed party'. Check with your brokerage and state law.

Feb 19, 2016 10:39 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Check with your state law for offering a rebate. If paid under the table after the closing, it is wrong.

Feb 19, 2016 10:33 PM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Check state law in your state.

Feb 19, 2016 10:30 PM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Stop it now...or you will never stay in business!!!!

Eve

Feb 20, 2016 02:43 AM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

What Candice A. Donofrio and Michael Setunsky and others said.

Feb 20, 2016 12:19 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

Consult appropriate legal counsel in the relevant jurisdiction(s).

Feb 20, 2016 12:10 AM
Rainmaker
108,016
Scott Lawson
America's Home loans - Santa Rosa, Petaluma Mortgage Broker - Santa Rosa, CA
Mortgage Broker FHA, VA, refinance or purchase

Several have stated that once you cash your check, you can do what you want with your money.

Like if a loan officer cashes his check and then pays a Realtor for referring the deal???

If you make an arrangement for payment outside of escrow before a deal closes, I think you're crossing a line. It's not the payment, but the promise for payment in oder to seal the deal that is a problem...

Why wouldn't you just include a credit from agent to buyer in escrow instructions and do it correctly???

Feb 19, 2016 11:54 PM
Rainmaker
2,775,511
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

You and the family member need to discuss this between you to

Feb 19, 2016 10:40 PM
Rainmaker
2,070,825
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

You won't return commission. It will be gift. 

Dec 01, 2019 09:31 AM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Why after closing? Why don't you do it on the HUD?

Dec 01, 2019 09:20 AM
Ambassador
2,160,807
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

After the close, you can do whatever you want with the money.  Just remember, you'll need to claim it as income on your tax return.  Otherwise, I suggest negotiating it into the contract (with your broker approval).

Feb 25, 2016 03:31 AM
Rainmaker
5,848,314
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I always have heard the lender needs to know this information.  

Feb 21, 2016 11:27 PM
Ambassador
6,352,310
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

do what you want with your money as long as you dont make it part of the deal

Feb 20, 2016 03:38 PM
Rainmaker
4,272,424
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Jeff Pearl tells the truth!

Feb 20, 2016 11:26 AM
Rainer
223,831
LUXURYSOCALREALTY COMPASS La Jolla
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Please don't. 

Feb 20, 2016 11:21 AM
Ambassador
3,159,779
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

If I'm going to give it I do it as a credit on the HUD so that I don't pay taxes on it and give it away.

Feb 20, 2016 11:03 AM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

It looks like you've gotten the answer.

Feb 20, 2016 10:54 AM
Rainmaker
7,787,954
Roy Kelley
Retired - Gaithersburg, MD

Your can give away your money as long as you comply with the reporting requirements and the law.

Feb 20, 2016 09:58 AM
Rainmaker
864,658
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

If it is a rebate or credit that was discussed before the closing, it must be disclosed. However, if you all of a sudden feels like giving away your hard earned money, feel free to  write me a share of your commission. I will gladly and willingly accept it. 

Feb 20, 2016 09:46 AM
Rainmaker
1,498,138
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Check your state laws and consult with your state attorneys.  Also, keep that manufacturing job flipping burgers at McDonalds.  You'll need it if you keep giving your money away.

Feb 20, 2016 09:41 AM
Ambassador
2,679,049
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Cash Rebates are perfectly legal in Florida, provided that written disclosure is made to all parties, including the Lender.

   

Feb 20, 2016 08:59 AM
Rainmaker
4,972,976
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Can I send you my address? Did you not earn your commission? You want to pay taxes on it and give it away? Wow..how long do you think you'll be in business?

Feb 20, 2016 08:36 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It's no problem doing this in Florida, provided this was disclosed to all parties in the closing statement.

Feb 20, 2016 04:11 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

In the state of Tennessee nobody but licensed brokers can receive commissions. You could reduce your fee and negotiate it with the other agent if you need to and reflect it on the closing statement.

Feb 20, 2016 03:20 AM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

stephanie and John webb and Jeff Pearl are right. Cash your check and then treat any gift as separate from the transaction. Check with your CPA, it probably can be deducted as a business gift expense.

Feb 20, 2016 02:52 AM
Rainmaker
897,698
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

If a person is your principal, it is legal to do so, at least in my state. Check your local rules.

Feb 20, 2016 01:56 AM
Ambassador
3,339,024
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

This sounds more like a "rebate" to me. In theory rebates should be disclosed.  Just be careful ... if this was reported after you did it and it was called into question ... you may be sliding down a slippery slope.  Check with your state laws.

Feb 20, 2016 01:04 AM
Rainmaker
4,133,976
John Pusa
Glendale, CA

I think, it is wrong. 

Feb 20, 2016 12:55 AM
Rainer
42,620
Fred Hafdelin
Weichert Realtors - Mountain Lakes, NJ

Why not just reduce the commission?

Feb 20, 2016 12:44 AM
Rainmaker
5,583,167
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I'm with Joe Pryor on that one..... 

Feb 20, 2016 12:38 AM
Rainmaker
400,356
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

What does it say about the value of the service you provide?  Does it set a precedent you want to set? 

Feb 20, 2016 12:36 AM