How Real Estate Commissions Work | Real Estate Exam Prep

Having an understanding about how real estate commissions work is important. How real estate commission are paid depends on local customs and state real estate licensing laws. There are a few key things you need to know for your real estate licensing exam. We will discuss those items in this real estate exam prep video.

Key real estate terms discussed in this video include:

Sherman Antitrust Act – The Sherman Antitrust Act was enacted in 1890 to stop unfair trade practices that interfere with free trade. It prohibits any attempts to monopolize any part of commerce in the United States
Real Estate Commission – A fee charged to faciliate a real estate transaction
Multiple Listing Service – An MLS is a private platform that offers cooperation and compensation by listing brokers to other real estate brokers.

Best of luck with your studies…

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New real estate exam prep videos uploaded 2-3x per week to students pass their real estate exam. Feel free to leave a comment, suggestion, or questions asked in the comment section.

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Paul Vojchehoske
Mr. Real Estate Seminars, Inc.
The Real Estate Classroom
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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.

Cheers,
Paul Vojchehoske