Question

A salesperson must be paid within ____ business days after the Broker is paid

a) 7
b) 14
c) 21
d) 30

Answer 1

The salesperson must be paid within 14 business days after the Broker is paid.

Step-by-step explanation:

The correct answer is b) 14 business days. The question relates to the real estate business practices, specifically the timeline for paying a salesperson after a broker has received payment for a transaction. After the Broker is paid, the salesperson should receive their payment within 14 business days. Business days typically exclude weekends and public holidays, so it refers to the number of weekdays it should take for the salesperson to be paid.

For example, if the Broker is paid on a Monday, the salesperson should expect to receive their payment by the end of the two following weeks, on a Monday as well. This allows for a reasonable amount of time for the funds to be processed and transferred to the salesperson's account.