For the Rhode Island state portion, how should a candidate analyze a seller asks the principal broker about commission split or distribution?
Correct Answer
A) Upon request, the principal broker must advise the seller of the rate or amount of any commission split or distribution
230-RICR-30-20-2 § 2.26 requires the principal broker, upon request, to advise the seller of the rate or amount of any commission split or distribution. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 § 2.26 and R.I. Gen. Laws § 5-20.5-14; checked 2026-04-30.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
Earnest money is a deposit made by the buyer at the time of the offer or shortly after to demonstrate good faith and serious intent to purchase the property. It is also called a good faith deposit.
Equitable title is the buyer's interest in a property after a purchase contract is signed but before closing, giving the buyer the right to acquire legal title in the future. The seller retains legal title until the deed is delivered at closing.
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