Arthur recently selected a broker to sell his house. Arthur and the broker are now in the process of finalizing the listing agreement. How should Arthur determine how much he should pay the broker as a commission?

Arthur must negotiate with the broker until both parties agree to a commission.

A listing broker is not entitled to a commission.

The commission must be set to 6% of the sales price as dictated by FREC.

The commission must be between 3-6% of the sales price as per NAR guidelines.