Kovats Real Estate School Practice Test

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Enhance your real estate knowledge with the Kovats Real Estate School Test. Explore flashcards and multiple-choice questions with hints and explanations. Prepare confidently for your real estate exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Unless otherwise agreed in writing, how many days does an employing broker have to pay a salesperson their commission after receipt?

Five days
Ten days
Fifteen days
Thirty days

The correct answer is: Ten days

The correct answer is that an employing broker has ten days to pay a salesperson their commission after receipt, unless a different agreement has been established in writing. This timeframe is generally set to ensure timely compensation for the salespersons' efforts and to foster trust and professionalism within the real estate industry. Adhering to this guideline helps maintain good working relationships between brokers and salespeople, providing clarity about payment expectations. While there may be different arrangements in place based on specific agreements, the ten-day rule serves as a standard operating procedure to promote fairness and transparency in commission payments.