Question

General Statute 93A-2 states, in part, that a real estate broker is any person who, for compensation or valuable consideration or the promise thereof, lists or offers to list property. All of the following would constitute valuable consideration, EXCEPT:

A. a listing agent is promised a weekend trip to Myrtle Beach if the agent puts the home under contact before the end of the year
B. the owner of a jewelry store gives his buyer's agent a diamond bracelet as a way of saying thank you for the agent's hard work
C. a butcher offers a year's supply of top sirloin to his agent if they can purchase an investment property for 50% off the asking price
D. the neighbor brings fresh tomatoes from their garden and bakes their agent a fresh apple pie as way of saying thank you

Answer 1

Valuable consideration typically involves items of financial or material value exchanged for professional services. In the context provided, fresh tomatoes and apple pie from a neighbor do not constitute valuable consideration, unlike the other examples which have clear financial value.

Step-by-step explanation:

According to General Statute 93A-2, a real estate broker is any person who, for compensation or valuable consideration or the promise thereof, lists or offers to list property. What would not constitute valuable consideration in this context is an exchange that is purely social or personal, without any financial or material value inherently tied to the professional service performed by the agent.

In the options provided, all but one are forms of valuable consideration. A weekend trip to Myrtle Beach (A), a diamond bracelet (B), and a year's supply of top sirloin (C) are all items with a clear financial value and could be considered valuable consideration in the context of business and real estate transactions. However, a neighbor providing fresh tomatoes from their garden and baking a fresh apple pie (D) as a form of gratitude, while generous and kind, does not hold the same type of financial or material value that typically accompanies professional real estate services.

Therefore, the correct answer to which does not constitute valuable consideration is (D) the neighbor bringing fresh tomatoes from their garden and bakes their agent a fresh apple pie as a way of saying thank you.