Under Florida real estate law, all of the following are acceptable forms of compensation for licensed real estate services EXCEPT:
Correct Answer
C) Vacation timeshare week given by grateful client after closing
A vacation timeshare week given after closing without prior written agreement would constitute an undisclosed gift and potential violation of compensation regulations. Option A is correct as cash commissions are standard. Option B is acceptable if properly disclosed and agreed upon in writing. Option D is acceptable for property management services when properly documented and disclosed.
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A $425,000 transaction has a 5.5% total commission split equally between the two brokerages. The selling brokerage pays its sales associate 65% of the commission it receives. How much does the sales associate receive?
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Sales Associate Jennifer works for Broker Tom and shows a property listed by Broker Sarah. The buyer Jennifer represents makes an offer that is accepted. However, before closing, the seller decides to cancel the contract for no valid reason. The listing agreement contains a protection clause. Who is entitled to pursue commission from the seller?