Personal Transaction Policy
To add a personal transaction in Scenic Connect, add it just like any other transaction with these two changes:
- For commission amount put “$0”
- In the comments section, make a note that “this is a personal transaction”.
There is no limit to the number of personal transactions you may have. The policies below will prevail when you have a personal transaction:
- If you are selling your personal property and the property is publicly marketed through MLS and/or the Sotheby’s International Realty syndication platform, the transaction will be assessed a flat $800 fee, as well as the 6% Sotheby’s International Realty brand royalty fee, based on the commission offered to the cooperating broker. Example: If you offered 2.5% to a cooperating broker, you would pay 6% of a 2.5% listing commission. If the property is sold outside of MLS and/or the Sotheby’s International Realty syndication platform, or a purchase agreement is executed 45 days after the listing expiration date and/or its withdrawal from said platforms and no commission is earned, the transaction will not be assessed any fees.
- If you are purchasing a personal property, we encourage you to have your commission applied to your closing costs so there is no revenue to assess the 6% Sotheby’s International Realty brand royalty fee. In the event you receive a commission on the purchase of a personal property, your commission will be subject to your compensation plan split and all other applicable fees.
Once each year, for a personal transaction that closes at Scenic Title, you are eligible to receive a rebate equal to the portion of the premium Scenic Title would have ordinarily received so long as you have had a closing at Scenic Title in the previous six months.