Broker Billy secured a written listing from a large company which owned an unused warehouse. Billy later entered into a verbal agreement to share his commission with cooperating broker, Cynthia. The cooperating broker procured a buyer, but later Billy refused to split the commission at closing. Cynthia could
A) sue to recover her share.
B) not sue because this was only a verbal agreement.
C) ask the real estate commission to arbitrate.
D) forbid her sales agents from ever working with Billy's agents in the future.
Correct Answer:
Verified
Q15: A residence was listed at $100,000 and
Q16: A listing agreement authorizes the broker to
A)
Q17: A licensed real estate salesperson can accept
Q18: A broker lists a property and gets
Q19: A broker has an exclusive right to
Q21: The broker/manager receives 45% of the commissions
Q22: Under an exclusive authority to purchase agreement,
Q23: A properly signed multiple listing agreement is
Q24: A licensed salesperson has an open listing
Q25: A written, exclusive right to sell listing
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