MLS allows brokers to offer bonuses under agent compensation fields. However, because of space limitations, MLS also further allows a broker to place parameters on the bonus in the agent remarks. These comments may include conditions such as “payable only with full price offer,” or “payable only if settlement occurs on or before a specified date.” However, if a listing offers a bonus with no conditions stated, then a cooperating agent can expect to be paid the bonus when he or she becomes the procuring cause of the sale. If you are the procuring cause for the sale of a property that was listed in MLS as offering a bonus without any conditions, and you fail to receive the bonus, you can file a request for arbitration with your local association asking for the bonus.

So if you are a listing agent that is offering bonuses, make sure that you state clearly the conditions that apply to the payment of the bonus, because if you fail to do so, the bonus will be due upon successful completion of the transaction.

The Northern Virginia Association of REALTORS does not fix, control, recommend, suggest, maintain or establish the fees that individual members may charge their clients for the services they provide. Nothing in this article should be construed as attempting to fix prices or fees.