A salesperson has a written or verbal agreement with their broker that specifies what the "commission split" will be. This "commission split" is not something that is set by law, but is decided through negotiations between the agent and the broker they work for.
These are questions that the above text answers:
1. How is the "commission split" between real estate agents and brokers determined?
2. Is the "commission split" between real estate agents and brokers set by law?
3. Who decides the "commission split" between a salesperson and their broker?
4. What is the role of a real estate agent?
5. Are the responsibilities of a real estate agent defined in a written agreement?
6. Can the "commission split" between a salesperson and their broker be determined verbally?
7. Is the "commission split" between a salesperson and their broker subject to negotiation?
8. Is the "commission split" between a salesperson and their broker legally binding?
9. Are there any legal requirements for the "commission split" between real estate agents and brokers?
10. Can a real estate agent work for multiple brokers with different "commission splits"?