If a licensee receives bonuses and incentives, what is necessary?

In the context of real estate transactions in North Carolina, when a licensee receives bonuses and incentives, it is essential to have disclosure and consent from the principal. This means that the licensee must inform the client about any bonuses or incentives they expect to receive related to the transaction.

This requirement ensures transparency and maintains trust in the relationship between the licensee and the client. It protects the interests of the client, allowing them to understand the potential motivations of the licensee in a given transaction. By obtaining consent, the licensee upholds ethical standards within the real estate profession, complying with regulations that foster honesty and integrity in dealings.

It’s important to note that while written approval from the Broker-in-Charge, an oral understanding, and notification to the state board could be relevant in other contexts, they do not directly address the need for transparency and client awareness regarding bonuses and incentives received by the licensee.