A licensed real estate salesperson wants to change brokers. Which of the following actions is required? A. turn in the current license to the new broker B. place the current license on inactive status C. notify the commission in writing within 10 days after the intended date of change and return license D. Notify the current broker in writing within 10 days before the intended date of change

A licensed real estate salesperson wants to change brokers. Which of the following actions is required? A. turn in the current license to the new broker B. place the current license on inactive status C. notify the commission in writing within 10 days after the intended date of change and return license D. Notify the current broker in writing within 10 days before the intended date of change

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter8: Property Transactions: Capital Gains And Losses, Section 1231 And Recapture Provisions

Section: Chapter Questions

Problem 22P

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Carla Vista Inc., a registered broker, enters into a finder's fee agreement with Wildhorse Homes Ltd. on June 15, 2023. Carla Vista will find leads in the form of buyers potentially interested in purchasing Wildhorse's real estate holdings. Along with finding potential buyers, Carla Vista helps negotiate the selling price and provides advice on contract details. If and when Wildhorse closes a sale, Carla Vista will be paid within 30 days of the closing date, based on the following formula: 5% of any transaction value up to and including $1 million, plus 4% of any transaction value greater than $1 million and less than and including $2 million, plus 3% of any transaction value greater than $2 million and less than and including $3 million, plus 2% of any transaction value greater than $3 million and less than and including $4 million, plus 1% of any transaction value in excess of $4 million. If Carla Vista uses another broker and this information is not shared with Wildhorse, the fee is…
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