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Questions and Answers
What determines the broker commissions in real estate?
What determines the broker commissions in real estate?
- Real estate trade associations' policies
- Negotiation between the broker and client (correct)
- Industry standards and practices
- Laws and regulations
Can the compensation paid to a real estate broker be changed?
Can the compensation paid to a real estate broker be changed?
- Yes, it is fully negotiable (correct)
- No, it is fixed by law
- No, it is determined by industry standards
- Yes, but only by a real estate trade association
What is the role of real estate trade associations in setting broker commissions?
What is the role of real estate trade associations in setting broker commissions?
- They have no role in setting commission rates (correct)
- They set the commission rates
- They determine the commission rates based on experience
- They provide guidelines for commission rates
What factor influences the broker commission in a real estate transaction?
What factor influences the broker commission in a real estate transaction?
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How are broker commissions typically determined in real estate transactions?
How are broker commissions typically determined in real estate transactions?
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