Chapter 26 - Commissions

Question 1

If all HBR Brokers collude to set a commission rate, this is would be a violation of what?

Answer 1

The Sherman Anti-Trust Law

Question 2

In order to be entitled to a commission

Answer 2

A Broker must produce a ready, willing and able Buyer and the deal does not have to be consummated if the seller refuses to sell

Question 3

After the Purchase Contract has been accepted, the Buyer terminates the transaction during the inspection period….is the Broker entitled to a commission?

Answer 3

No, the Broker is not entitled to a commission

Question 4

What happens if there is a clause in the sales contract that states the sale is contingent on the Buyer receiving financing:

Answer 4

The Broker is entitled to a commission if the Buyer receives financing and all other contingencies have been met.

Question 5

If a Broker brings in a full price offer on the agreed terms, and the owner refuses to sell is the Broker entitled to a commission?

Answer 5

The Broker is owed a commission