BPO Compensation - Should it change?
By Derek Bauer's, www.DoorToDreams.com Door to Dreams Home Selling Team
(Real Estate One)
I recently read Theron Patterson's post about BPO Payments and I had a couple comments, and questions. I learned some interesting things about BPOs (well, in Michigan at least) while I was completing my Broker Training a couple years back.1. In Michigan, it is not legal to be compensated for BPOs unless you have an Assoc. Broker license.2. In Michigan, it is not legal to be compensated for a BPO unless your purpose in doing the BPO is to get the listing, not just provide an estimate of value.3. In Michigan, it is not legal to be compensated as a licensed Salesperson in any other fashion then directly through your employing Broker. No exceptionsPer Article 26 of the Occupational Code, Sec. 2601, the following is stated:(i) A market analysis performed by a person licensed under artic...
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