Section 5.0.2: Form of Indicating Compensation:

Section 5.0.2: Form of Indicating Compensation:

In entering a property with the Service, the Participant of the Service is making blanket unilateral offers of compensation to the other Service Participants, and shall, therefore, specify on each listing entered the Service, the compensation being offered to the other Service Participants. Specifying the compensation on each listing is necessary because the cooperating broker has the right to know what his compensation shall be prior to his endeavor to sell. The listing broker must indicate cooperating compensation in the form of a percentage of the gross selling price, a percentage of the net selling price, or a definite dollar amount.

 

In the event the offer is a percentage of the net selling price; the listing broker must place the following note in the Agent Remarks: Compensation paid on net selling price. The offered compensation must be greater than zero. The listing broker retains the right to determine the amount of compensation offered to other Participants acting as subagents or buyer agents which may be the same or different. The listing broker may, from time to time, adjust the compensation offered to other Service Participants for their Services with respect to any listing by advance published notice to the Service so that all Participants will be advised.

 

Additional Compensation disclosure as required by NCREC Rule A.0109 where cooperating broker's additional compensation is more than "nominal" may be placed in the Additional Compensation field.

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