Selling Agent Owned Properties (AOP)

If you are selling a property that you or an immediate family member own, then it is considered Agent Owned Property or A.O.P. 

Due to the increased risk, E&O costs, and broker supervision, the charge for A.O.P. sales is 2x (two times) the normal fee amount. 

Immediate family is defined as spouses, children, parents, and siblings.

If you are handling an A.O.P. transaction that becomes dual agency you must immediately notify the brokerage. The charge for A.O.P. sales COMBINED with dual agency - in the event that were to occur - is 4x (four times) the normal fee amount. 

Per the terms of the Independent Contractor Agreement, AOP transactions must charge a minimum commission of 1% of the sales price. The brokerage fees are deducted from this amount and the balance will be paid out to you as commission or as seller proceeds. 

You must disclose in writing that you are a real estate licensee whenever you buy or sell property in which you have an ownership interest, you have a special relationship with a buyer, or where there is a possibility that you could acquire a direct or indirect financial or legal interest in the property. Furthermore, we advise all agents to disclose this verbally at first point of contact in addition to the written notification as part of the initial RPA (or through a counter offer.)