Real Estate Brokers/Agents Wanted for Nonprofit Transactions - Georgia
We are a501(c)(3) tax-exempt nonprofit organization with licensed real estate agents in Florida, expanding our business intoGeorgia. We are actively seekinglicensed Realtors in Georgia to assist with handling real estate transactions on our behalf. Our organization regularly purchases properties valued between$1 million to $4 million, and we are looking for agents or brokers to help facilitate these deals in the state of Georgia.
What We Offer:
Commission Structure: For each transaction, we offer10% of the buyer's commission. For example, on a$2 million transaction with a3% commission ($60,000), you would earn$6,000 for processing the transaction through your brokerage. The remaining$54,000 will be credited to the buyer at closing.
Discount Realtors Preferred: We primarily work with agents fromdiscount brokerage firms to ensure smooth and efficient transactions.Discount Realtors typically pay a flat fee to their brokerage, usually around$200 to $300 per transaction, rather than splitting a large percentage of their commission.
If you work for a brokerage that takes50% or more of your commission, you may find it difficult to profit under this structure. To be successful in partnering with us, you will need to work with adiscount brokerage that charges a flat fee for transaction processing, as this allows you to retain the majority of your earnings. There are many such firms available today that offer this model.
What You Will Do:
Your Role: Your role will be tofill out and process the contract once we’ve selected the property. You will represent us as the buyer and handle the transaction paperwork. Your primary responsibility is to ensure the documentation is accurate and manage the process through your brokerage.
We Handle Everything Else: Our team is responsible forfinding the properties,selecting them, andvisiting them in person. We handle all the groundwork in selecting the real estate.
No Heavy Lifting: There’s no need for you to conduct showings. Your focus is solely ondocumentation andfacilitating the closing process.
Commission and Legal Structure:
Commission: For your services, you will earn10% of the buyer’s commission from the sale, with the remaining 90% of the buyer’s commission credited to the buyer at closing.
Legal and Common Practice: This is alegal and common practice in which agents can choose toretain a portion of the commission or allocate it towards the buyer, depending on the structure of the deal. You will be required to sign a document agreeing that you will retain only10% of the buyer's broker commission, with the remainder going towards the buyer’s closing costs.
Requirements:
Active Real Estate License in Georgia.
Ability to handlehigh-value transactions and efficiently manage paperwork.
You can be either areal estate agent or abroker.
Legal and Ethical Considerations for Commission Rebates in Georgia
In Georgia, it is both legal and ethical for real estate agents to offer a portion of their commission as a credit to the buyer. This practice is known as a commission rebate and is allowed under Georgia Real Estate Law as long as the rebate is fully disclosed to all parties involved in the transaction.
Key Legal and Ethical Points:
Georgia Real Estate Law: Agents are permitted to offercommission rebates as long as they are disclosed in writing and agreed upon by both the buyer and the seller. The rebate must be reflected in the finalClosing Disclosure orSettlement Statement. You can review the details of the law at theGeorgia Real Estate Commission website here.
Ethical Standards: According to theNational Association of Realtors (NAR) Code of Ethics, agents must conduct their transactions with honesty, transparency, and in the best interests of their clients. Offering a portion of your commission as a rebate is considered ethical as long as the agreement is transparent and both parties are fully informed. Learn more about these ethical standards fromNARhere.
Georgia Real Estate Commission (GREC): TheGeorgia Real Estate Commission oversees the licensing and regulation of real estate practices in the state. They provide guidelines and oversight to ensure all real estate transactions adhere to both state laws and ethical standards. You can access GREC resources and guidelines on commission rebateshere.
How It Works:
We Find the PropertyWe handle all the property research, selection, and site visits. You will receive the property details and the offer terms from us.
You Prepare and Submit the OfferYour role is to fill out the contract based on the provided details and submit the offer to the seller’s agent. You will manage the documentation process to ensure everything is legally compliant.
Transaction ManagementYou’ll communicate with the seller’s agent to ensure the transaction progresses smoothly and that all documents are signed and submitted on time.
Closing and PaymentOnce the deal closes, you keep 10% of the buyer’s commission (e.g., if the buyer’s commission is $60,000, you earn $6,000).
What You Do:
Prepare and submit the contract.
Handle communication and documentation.
Earn up to $10,000 per transaction for paperwork management.
What You Don’t Do:
No property showings or site visits.
No negotiating—just managing the paperwork.