South Dakota License Law
In South Dakota, a real estate licensee who receives a commission from a party other than their employing broker must:
ARetain the additional commission as personal income
BAccept additional compensation only from their employing broker, not directly from any other party✓ Correct
CReport the additional compensation to the IRS only
DObtain permission from the opposing party's agent
Explanation
Under South Dakota license law, a salesperson may only receive compensation through their employing broker. A salesperson who receives compensation directly from any other party (seller, buyer, or other) without it being channeled through the broker is violating license law.
Related South Dakota South Dakota License Law Questions
- Which statement about South Dakota real estate license reciprocity is TRUE?
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