Final answer:
A real estate broker can indeed set their own commission rates for salespersons in their firm, subject to adherence to antitrust laws that prohibit price fixing.
Step-by-step explanation:
Yes, within a real estate brokerage, the broker can set their own commission rates for the salespersons in their firm. While there are industry standards and common practices, no law dictates the specific percentage of commission that must be charged in a real estate transaction. The broker often decides commission structures based on factors like the local market, competition, and the services offered by the brokerage. Salespersons are typically required to adhere to the commission policy established by their employing broker.
However, it's important to note that any commission structure must comply with antitrust laws to avoid price-fixing. Brokers cannot collude with other brokerages to set standard commission rates; each brokerage must independently setitsr own rates. Also, some brokerages implement flexible commission plans where agents can negotiate their commission rates with clients to a certain extent, following the brokerage's guidelines.