Agency
A Vermont real estate broker who enters into a 'co-brokerage' agreement with another broker to cooperate on a sale shares their commission because:
AVermont law requires equal commission splits
BThe co-brokers agreed to share compensation for cooperating in the transaction, typically through MLS offering terms✓ Correct
CThe VREC mandates 50/50 splits
DThe seller's attorney requires it
Explanation
Co-brokerage (cooperating) commission splits in Vermont are established by agreement between brokers, most often through MLS compensation offerings. The listing broker offers a specific share to cooperating (buyer's) brokers in the MLS. The split is contractually agreed, not mandated by Vermont law.
Related Vermont Agency Questions
- A Vermont listing agent receives an offer with earnest money. Under agency law, the agent's fiduciary duty regarding these funds is to:
- Vermont's 'agency confirmation' at the time of contract preparation requires agents to:
- Vermont's 'seller's disclosure obligation' to their listing agent includes revealing:
- A Vermont open listing agreement gives the seller the right to:
- In Vermont, a licensee acting as a disclosed dual agent represents:
- A Vermont licensee acting as a property manager is considered to be acting in a:
- Vermont's 'holdover clause' in a listing agreement protects the listing broker's commission when:
- Under Vermont law, which of the following is an example of an implied agency?
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