Alabama License LawIntermediateAlabama Exam
In Alabama, can a real estate salesperson pay a referral fee directly to another salesperson?
AYes, if both salespersons agree
BYes, if the referral is for commercial property, under typical circumstances
CNo, compensation must be paid through their respective qualifying brokersCorrect
DYes, if the amount is under $500
Why No, compensation must be paid through their respective qualifying brokers Is Correct
Answer C: No, compensation must be paid through their respective qualifying brokers
In Alabama, salespersons cannot pay or receive compensation directly to/from each other. All compensation must flow through their respective qualifying brokers.
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Key Terms to Know
Discount Points
Prepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
License Law
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