Wyoming License Law
A Wyoming real estate licensee may receive a referral fee from:
AAny business that a client uses during a transaction
BAnother licensed real estate broker for referring a client to their brokerage✓ Correct
CA home inspector for referring clients to them
DA mortgage lender for steering clients to their loan products
Explanation
Wyoming licensees may legally receive referral fees from other licensed real estate brokers for referring clients. However, receiving referral fees from non-real estate service providers (inspectors, lenders) may violate RESPA's anti-kickback provisions and must be carefully structured.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
State-Specific Concepts
License Law
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