Rebate Agreement between Realty Direct Corp (Broker) and John and Jane Doe (Buyer), re purchase of 123 Main Street, Anytown, FL 33334
(1) Broker wishes to share its compensation and agrees to pay Buyer by way of a rebate 25% of any net selling side real estate commission earned and received by Broker up to 0.75% of the total purchase price.
(2) Net real estate commission is the amount of commission retained by Broker after all applicable referral fees and other disbursements have been accounted for.
(3) Payment of rebate to Buyer will be made within 3 days of receipt of cleared funds by Broker.
(4) Buyer understands that any payment of a rebate is subject to IRS reporting rules by Broker and agrees to furnish Broker with all tax payer information as necessary, prior to receipt of rebate payment.
Paul Venning Date
Realty Direct Corp
Jane Doe Date
123 Your Street
Yourtown, FL 33334
Florida Administrative Code: 61J2-10.028, Kickbacks or Rebates.
(2) The sharing of brokerage compensation by a licensee with a party to the real estate transaction with full disclosure to all interested parties is not considered a violation of Chapter 475, Part I, Florida Statutes.