Is this a crazy idea?

[Chad B.]

I'm not even sure if this is legal or how much this extra motivation may actually produce results but thought I'd throw it out there to get some expert opinions.

Let's say I have a property that I would like to sell for $1M and if I were to get that amount I would achieve the returns I was hoping to get for it. My realtor thinks it's worth between $1M-$1.2M for it. Can I write the listing contract with this agent to read something like:

Comission to be paid on first $1M @ 5%
Comission to be paid on any amount over the first $1M @ 25% for any contract brought in the first 90 DOM
Comission to be paid on any amount over the first $1M @ 15% for contracts brought in between 90 and 180 DOM
Comissions to revert back to 5% for any contract brought in after 180 DOM

So if it sold for $1,100,000 within the first 90 days I would pay a total of $75,000 in comissions. From there I don't care how he pays out the buyers agent whether they split the 75,000 or if the buyers agent would get the standard $27,500 they would normally get. I would prefer my agent take the lions share here since this is my incentive to him to sell it faster and for more money but I don't know if that's legal either.

My fears in this are:
First of all is any of this legal
Secondly would he have to disclose this information to the buyers agent before they make an offer because just disclosing this information to the buyers agent would signal to them that my goal is $1M for this property.

My thoughts are this would really motivate my agent to really push this property and get it sold quickly and I don't mind sharing the fruits of this extra labor.

It's just a thought at this point. I'm sure I'm not reinventing the wheel here so if it's allowed to be done I'm sure it's been tried and I'd like to hear what kind of results others have seen from an approach like this.