Rules for Referral & Finder's Fees in Real Estate

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

A ____ fee is a fee paid to someone who brings parties to a successful transaction together.

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1. If permissible by law, who pays the finder's fee?

2. Larry is selling a house in California. Neil, an unlicensed individual, refers Larry to Bob who decides to buy the house with an FHA insured loan. Can Larry pay Neil a finder's fee?

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About This Quiz & Worksheet

We've designed this quiz and worksheet to help you measure what you know about real estate referrals and finder's fees. Some questions involve practice scenarios that will require you to determine if a finder's fee should be paid.

Quiz & Worksheet Goals

Answer these questions to gauge what you know about:

  • Who pays the finder's fee
  • Finder's fees associated with houses
  • The fee paid to someone who sets up those involved in a transaction

Skills Practiced

Get ready to practice the following skills by using them to complete the quiz:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on rules for referral and finder's fees
  • Information recall - access the knowledge you've gained regarding the sale of an office building
  • Knowledge application - use your knowledge to answer a question about violations of RESPA

Additional Learning

More information about this subject is available in the lesson entitled Rules for Referral & Finder's Fees in Real Estate. You can use this lesson to increase what you know about:

  • Differences between referrals and finder's fees
  • State laws related to these fees
  • Federal laws and RESPA
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