This is basic Real Estate 101. The only person that a Licensee can accept any kind of a payment from is the Responsible Broker in ANY transaction. This same rule applies to Broker Associates as well.
Let's say that the seller of a property gives you a nice Thank you card with $200.00 in it. Can you keep it? The answer is quite simple, NO. All money for compensation for the services that you render involved in a Real Estate Transaction MUST go through your Responsible Broker (your Firms Broker).
So, you can give this $200.00 to your broker and they can give it to you, but, keep in mind that he/she can still take a percentage of this (bonus if you will) if they want. This question, as far as I know, is on every Real Estate Exam given for getting a
Real Estate License.
Answer Submitted on Tue, Jan 13 2009
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