The South Dakota Real Estate Commission can discipline a licensee for all of the following EXCEPT:
Correct Answer
C) Charging a commission higher than the industry average
Commission rates are negotiable and not set by law or the Real Estate Commission. Charging a higher commission is not a disciplinary offense. However, commingling funds, failing to disclose defects, and practicing without a license are all violations subject to discipline.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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