§ 17468 Broker Commissions For Proposals

• •The board can decide to pay a commission to a real estate broker if they help get a good offer for property.
• •The commission amount must be written down in the official decision.
• •The broker's name and the commission amount must be included in the winning bid.
• •The commission can only be paid using the money earned from selling or renting the property.

A school board wants to sell an old school building. They ask a real estate broker to find buyers. The broker finds someone who offers $500,000 for the building.

The board can pay the broker a commission, but they must write down how much it is in their official decision. The winning bid must include the broker's name and the commission amount. The commission can only be paid using the $500,000 from the sale.