Agent Rivera is a licensed Minnesota salesperson who wants to receive a referral fee from an out-of-state broker for sending a client to that broker. The client successfully closes on a property in Wisconsin. Under Minnesota law, which of the following statements is correct?
Correct Answer
C) Rivera must receive the referral fee through her Minnesota supervising broker
Under Minn. Stat. Ch. 82, a Minnesota salesperson may only receive compensation — including referral fees — through their supervising broker. Even when the referral involves an out-of-state transaction, the compensation must flow through the Minnesota broker, who then pays the salesperson per their agreement.
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Related Topics & Key Terms
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FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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