Does the Real Estate Brokers Act dictate commission payment?

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Multiple Choice

Does the Real Estate Brokers Act dictate commission payment?

Explanation:
Commission terms are not dictated by the Real Estate Brokers Act. The Act covers licensing, duties, conduct, and how services are provided and funds handled, but it does not set commission rates or specify who must pay. The actual payment arrangement comes from the client–broker engagement contracts (such as listing and buyer representation agreements) and may involve the seller paying the commission to the listing broker, who may then share it with the buyer’s broker, depending on the agreement. In short, commissions are negotiated in contracts, not fixed by statute.

Commission terms are not dictated by the Real Estate Brokers Act. The Act covers licensing, duties, conduct, and how services are provided and funds handled, but it does not set commission rates or specify who must pay. The actual payment arrangement comes from the client–broker engagement contracts (such as listing and buyer representation agreements) and may involve the seller paying the commission to the listing broker, who may then share it with the buyer’s broker, depending on the agreement. In short, commissions are negotiated in contracts, not fixed by statute.

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