DISCLOSURE TO SELLERS OF EXPECTED REMUNERATION
Mandatory Form required under section 5-11.1 of the Real Estate Rules.
Each time a trading services licensee presents an offer to their seller client, they must include a completed disclosure form that informs the client about the remuneration the licensee's brokerage will receive.
The form explains to the seller:
- the total commission that the listing brokerage would receive if the offer is accepted
- how the commission would be shared with any cooperating brokerage
- any other payment the licensee will receive, or expects to receive, as a result of the trade
This information helps ensure that sellers are fully informed of the expected remuneration that the brokerage(s) will receive if they accept an offer.