Sales Incentive
Definition of "Sales incentive"
Extra compensation given to a real estate broker who has surpassed his sales quota (e.g., number of house sold, total sales dollars of houses sold, number of apartments rented, square footage of office space rented). The incentive may be a flat fee or a percentage of extra sales dollars above the quota. For example, if the sales goal is $3,000,000 but actual sales generated was $4,000,000 and an incentive of 1% on extra sales is given, the real estate broker would receive a bonus of $10,000 (1%x$1,000,000). While sales incentives are typically in money, it may be in other forms such as a new car, free vacation, and gift certificates.
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