Tuesday, September 11, 2007

Centex broker compensation policy!

Recently I've had the displeasure of learning that a broker can lose his commission for bringing a ready, willing, and able buyer to their community if Centex LATER determines that the buyer is eligible for a "Heroes Discount" (this is a 6% credit to those who are currently [or have ever been] employed as a Firefighter, Doctor, Dentist, in any capacity for any educational institution, Police officer, etc.). The Centex broker compensation policy further states that if Centex later offers said discount to buyer, broker registration becomes null and void and NO BROKER COMPENSATION will be paid to the registering agent.

Funny how they don't explain this to you while you're bringing multiple buyer prospects in to see their offerings.

Before I burst... I'll cut this post short. I thought real estate brokers and brokerages had the obligation in my state to act in an ethical manner, yet Centex is basically saying, "Bring in all the clients you worked so hard to secure, and we'll let you know if you'll be getting paid AFTER we decide if the buyer qualifies for our special programs".

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