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ADDITIONAL COMMISSION DISCLOSURE
Empire Network Realty receives compensation at closing for our services associated with
marketing a property for sale, and we collect a commission for finding a property
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How to fill out original-additional commission disclosure
How to fill out original-additional commission disclosure:
01
Start by gathering all the necessary information, including the details of the transaction, the parties involved, and the commission amount.
02
Identify whether the commission is for the original sale or an additional sale that has occurred after the initial transaction.
03
Clearly state the commission amount in the disclosure form, ensuring it is accurate and reflects the agreed-upon terms.
04
Specify whether the commission is a fixed amount or a percentage of the transaction value.
05
Provide a detailed description of the services or responsibilities associated with the commission, outlining the scope of work performed.
06
If necessary, include any additional terms or conditions related to the commission, such as payment schedule, exclusivity, or termination clauses.
07
Review the disclosure form thoroughly for accuracy and completeness before signing and submitting it.
Who needs original-additional commission disclosure:
01
Real estate agents or brokers who are involved in property transactions and receive commissions for their services.
02
Sales representatives or agents who work in industries such as insurance, finance, or retail, where commissions are a common form of compensation.
03
Any individual or entity engaged in a business agreement or contract that includes commission-based compensation.
It is important to note that the specific requirements for original-additional commission disclosure may vary depending on the industry, jurisdiction, and applicable laws, regulations, or policies. It is recommended to consult with a legal professional or regulatory authority for precise guidance in your specific situation.
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