AyAMi’s Cash Bonus (“Cash Bonus”, “Commission Rebate”, or “Rebate”) is contingent upon AyAMi’s ability to receive the buyer broker commission from the listing broker, sponsor, or seller. The Cash Bonus displayed is an estimate based on the asking price and the commission displayed on the SmartMLS Platform. While the data should be accurate, it is uploaded by individual listing agents in the market and neither SmartMLS nor AyAMi can guarantee its accuracy. All information that influences a decision to purchase a listed property should be independently verified by the purchaser. The exact amount of any Commission Rebate will depend on the actual sale price of the property and may change during the closing process due to changes in the terms of sale, and will only be finalized at closing.
The Commission Rebate may be restricted, reduced or prohibited by your lender, Connecticut State law, federal law, and other parties or regulations.
The Cash Bonus is subject to a $7,500 minimum retained by AyAMi, 2/3rds of the buyer’s broker commission collected, up to 2% of the purchase price, and never to be less than $0. In other words, the Cash Bonus is calculated as the lesser of:
i) Two-thirds of the buyer’s broker commission collected and up to 2% of the purchase price, or
ii) The buyer’s broker commission collected less the $7,500 minimum retained by AyAMi.
If buyer’s broker commission is more than 3%, the Cash Bonus will be 2% and subject to the $7,500 minimum retained by AyAMi.
The Cash Bonus is paid to the buyer by check or bank transfer after the closing. The buyer may elect to have the Cash Bonus applied as a credit on the closing statement instead if permissible by the sale and purchase contract, lender, Connecticut State law and federal law. If you would like your Cash Bonus to be used as a credit on the closing statement, you must let us know before we submit the offer.
Unless instructed otherwise in writing by the purchaser, a Cash Bonus will only be issued to the purchaser of the property. Absent such notice, the recipient must be listed on the deed for the property or on share certificate for a co-op which transfers ownership at closing.
Seller that engages AyAMi Group to sell a property will be responsible for 2 fees: (1) listing fee and (2) buyer’s agent fee. Both fees will be agreed upon prior to signing a listing agreement.
AyAMi Group charges a 1.25% listing fee of the property’s sale price to the seller when seller has engaged AyAMi Group to sell a property in an exclusive right to sell agreement.
This fee typically ranges between 2% and 3%. There is no required amount for the offer of compensation and ultimately it is the seller’s decision as to how much to offer to the buyer’s agent. This is to be agreed upon prior to signing a listing agreement. Once the property is listed and then sold, one of three scenarios will occur as described below:
i) The buyer will be represented by a real estate agent or broker not affiliated with AyAMi Group. The seller will be responsible to pay the previously offered buyer’s agent fee.
ii) The buyer will be represented by a real estate agent or broker affiliated with AyAMi Group. All parties involved would have agreed to Dual Agency but they do not have to do so. The seller will be responsible to pay the previously offered buyer’s agent fee.
iii) The buyer has no representation and was found by AyAMi Group. AyAMi will charge an additional 1% fee but the seller will not be responsible for paying any buyer’s agent fee as there is no separate buyer representation.
AyAMi reserves the right to edit these terms at any time. All and any transactions currently under contract will be unaffected by any changes made post any contract’s effective date. Edits posted to the AyAMi website will service as notice of the changes to all prospective buyers.
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