A Nebraska salesperson is asked about a broker wants to collect compensation out of earnest money before the transaction closes or terminates. What is the best answer?
Correct Answer
B) Charging or collecting compensation from earnest money before the transaction is consummated or terminated is an unfair trade practice
Nebraska restricts taking broker compensation from earnest money until the transaction is consummated or terminated. Source basis: Neb. Rev. Stat. §81-885.24, Nebraska Legislature official statute; checked 2026-04-30
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
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