Broker-Salesperson Flashcards
1
Q
An antitrust violation, to suggest that a standard fee exists
A
price fixing
2
Q
Refers to who started the chain of events leading to the sale, which often means whose actions produced a ready, willing and able buyer.
A
Procuring cause
3
Q
A clause that requires the client to abide by the compensation agreement if the client buys or sells within a certain amount of time after the agreement terminates.
A
protection clause
4
Q
Brokerage compensation options include
A
a flat fee, fee for service, or percentage of sale
5
Q
you may not receive or give referral fees or finder fees from/to mortgage brokers, title reps, or any other settlement service provider
A
Real Estate Settlement Procedures Act
