Under Mississippi license law, how must a salesperson receive compensation for real estate services rendered?
Correct Answer
B) A salesperson must receive compensation only through their employing broker
Under the Mississippi Real Estate Brokers License Act, a licensed salesperson may not receive compensation for real estate services directly from a buyer, seller, or any other party. All compensation must be paid to the salesperson through their employing broker. Accepting compensation from any source other than the employing broker is a violation of Mississippi license law.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
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