Sandra is a licensed Broker in Washington working under a Designated Broker at ABC Realty. A buyer approaches Sandra directly and asks her to represent him in purchasing a home, offering to pay her a commission directly. Sandra wants to accept the offer. Which of the following statements is correct under Washington law?
Correct Answer
B) Sandra may represent the buyer, but all compensation must be paid through her Designated Broker at ABC Realty.
Under RCW 18.85, a licensed Broker in Washington must conduct all real estate activities under the supervision of a Designated Broker and may not receive compensation directly from a client or customer. All compensation must be paid to the Broker through the Designated Broker of the firm with which the Broker is affiliated.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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