Under the TREC One to Four Family Residential Contract, Paragraph 8 addresses brokers' fees. This paragraph typically states that the broker's fee is governed by:
Correct Answer
C) The separate listing agreement or buyer representation agreement between the broker and client
Paragraph 8 references that broker fees are determined by separate agreements between the brokers and their clients (listing agreements and buyer representation agreements). The TREC contract does not set commission rates.
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More Promulgated Contract Forms Questions
In Texas, title insurance rates are:
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Previous Question
A buyer in Texas signs the TREC One to Four Family Residential Contract with a 10-day option period. On Day 8, the buyer's inspector discovers significant termite damage. The buyer wants to request repairs rather than terminate. Under the contract, the buyer should:
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The TREC One to Four Family Residential Contract is designed for the resale of residential properties containing how many dwelling units?