Question

What section in the WB-1 Residential Listing Contract requires licensees to disclose commission offered to cooperating firms?

A. Section A - Property Information.
B. Section B - Terms and Conditions.
C. Section C - Commission.
D. Section D - Broker Compensation.

Answer 1

The commission offered to cooperating firms must be disclosed in Section D - Broker Compensation of the WB-1 Residential Listing Contract.

Step-by-step explanation:

The section in the WB-1 Residential Listing Contract that requires licensees to disclose the commission offered to cooperating firms is Section D - Broker Compensation. This section outlines the terms of compensation that the listing firm agrees to pay to any cooperating brokerage firm for bringing a buyer who purchases the property. It is crucial for transparency and ensures that all participating parties are aware of the commissions involved.