Reading from a California Real Estate book, it first talks about how a real estate agent can make suggestions as to a preferred escrow company for both the buyer and seller. Then it says:
“It is imperative that you, as the salesperson, disclose in writing any shared interest that you or your broker have with the selected escrow company.”
What is meant by “shared interest?” At first I thought it meant something along the lines of getting some kind of compensation if a particular escrow company was selected. Until I read further on down where it says:
“A real estate licensee is prohibited by law from receiving any “kickback” for solicitation of escrow business. (This also applies to claiming a fee or compensation for referrals to title insurance, home protection companies, and pest control firms.)”
What then is it referring to when talking about shared interest if the interest is not a fee, kickback, or any type of compensation?
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source https://www.reddit.com/r/RealEstate/comments/ew3zmv/what_does_shared_interest_mean_in_this_context/
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