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Builder and seller agent incentives are a big problem in our industry today.  Should the agent get an incentive simply to show a house or should that incentive go to the buyer?  Don't you have a fiduciary duty to do what is in the client's best interest?  How is it in the client's best interest for you to get a bonus for steering them to a house?  Doesn't sound too client centric to me!

Today, I will discuss the complexities surrounding builder and seller bonuses and incentives in real estate, particularly in light of the Sitzer Burnett case. I will explore the ethical implications of commission steering, the fiduciary duties of agents, and the legal truths that govern real estate compensation. The conversation will emphasize the importance of prioritizing client interests over personal financial gain, and I will discuss the potential legal repercussions of accepting bonuses from sellers.

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.