Which of the Following Is True of Real Estate Commissions

question 4

Multiple Choice

Which of the following is true of real estate commissions?

• A) If the seller has not given the broker a specific closing date, the broker can assume a reasonable closing date and can also claim a commission for an incomplete sale.
• B) If the seller has not given the broker specific terms on price, the broker can sell the property on his own terms and claim a commission.
• C) If the seller has not given the broker a specific closing date, the law assumes the contract to end 30 days after the creation of the contract, but the broker will not be entitled for a commission.
• D) If the seller has not given the broker specific terms of price or closing date, then the commission is not earned until the contract of purchase has been made.

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