#1240On Monday, June 12, 2006Guest (not verified) said,
"in Texas, it is illegal to split your commission with a client"
That's false. The real estate code says that you can refund ANY amount to the principals in the transaction (i.e. the renter or the landlord).
Also, not all locators split their comission with their broker 50/50. Some (usually the more senior) split 30/70 with their brokers. Others have a broker only as a paperwork matter (for which they compensate accordingly), but in all other ways they keep the lion's share of their comission. The trick is to find the "one man show" locator.
It's the smart, not unscrupulous locators who offer rebates. The unscrupulous ones post misinformation on message boards to fool renters into thinking they can't get a (large) rebate.
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"in Texas, it is illegal to
"in Texas, it is illegal to split your commission with a client"
That's false. The real estate code says that you can refund ANY amount to the principals in the transaction (i.e. the renter or the landlord).
Also, not all locators split their comission with their broker 50/50. Some (usually the more senior) split 30/70 with their brokers. Others have a broker only as a paperwork matter (for which they compensate accordingly), but in all other ways they keep the lion's share of their comission. The trick is to find the "one man show" locator.
It's the smart, not unscrupulous locators who offer rebates. The unscrupulous ones post misinformation on message boards to fool renters into thinking they can't get a (large) rebate.
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