Wednesday, December 7, 2011

NEW BROKER INCENTIVES

 Attention Brokers: (Effective on bids submitted on or after 12/01/2011)
A broker bonus is being offered in eight market areas:  Georgia, Florida, Mississippi, Alabama, Illinois, Indiana, Tennessee, and Kentucky.  The following conditions must be met in order for the selling broker to receive the applicable broker bonus.

  • The preliminary bid must be submitted on or after December 1, 2011.
  • A loan commitment letter from a lending institution must be received with the signed Sales Contract if the purchase is to be mortgaged; or, if paying cash, a certification letter must be received from a financial institution stating sufficient funds are available to complete the purchase.
  • The words “Broker Bonus” must be written or typed at the top of the signed Sales Contract.
  • The selling broker must complete and sign the HUD Notification regarding the broker bonus sales initiative.
  • For all properties that close up to 34 days of contract acceptance, the selling broker will be eligible for a $600 bonus*.
  • For all properties that close within 35 to 39 days of contract acceptance, the selling broker will be eligible for a $450 bonus*.
  • For all properties that close within 40 to 43 days of contract acceptance, the selling broker will be eligible for a $300 bonus*.
*Exclusions apply
Excludes:  Hard-to-sell properties
The selling broker will not be eligible to receive a bonus for any property advertised by the Asset Manager (AM) as hard-to-sell.
Note:  The Atlanta Homeownership Center will not consider any appeals submitted by the selling broker for properties that fail to close within the aforementioned timeframes.  No exceptions.