Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A broker tells a friend, who does not have a real estate license, that if the friend will help the broker obtain listings, the broker

A broker tells a friend, who does not have a real estate license, that if the friend will help the broker obtain listings, the broker will pay the friend a commission. This practice is:

  • legal if the broker provides full written disclosure to all parties
  • illegal if there is no written consent from the client
  • legal as long as it is considered a finder's fee and not a commission
  • illegal because no commission may be paid to an unlicensed person

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

10th edition

978-1337491471

Students also viewed these General Management questions

Question

itemise five main dimensions of organisational structure

Answered: 1 week ago