Question

You work for xyz realty under the supervision of broker luke. your buddy in the next county gave you a referral fee. the check came to your office in your name. you deposit it. is this okay?

Answer 1

No, because all compensation must come through your broker.

Which of the following actions should be taken when holding an open house?

Schedule the open house soon after the property hits the market.

Which of these statements best describes the concept of procuring cause?

Procuring cause means the licensee's actions produced a ready, willing, and able buyer.

Which of the following is true regarding a broker's commission in a real estate transaction?

• The commission must be stated in the listing agreement and is set by the broker.
• Commissions are determined at a special meeting of the local realtor board once a year.

Learn more about compensation

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