RCW 18.86.080 Compensation.
(1) In any real estate transaction, a firm's compensation may be paid by the seller, the buyer, a third party, or by sharing the compensation between firms.
(2) An agreement to pay or payment of compensation does not establish an agency relationship between the party who paid the compensation and the broker.
(3) A seller may agree that a seller's agent's firm may share with another firm the compensation paid by the seller.
(4) A buyer may agree that a buyer's agent's firm may share with another firm the compensation paid by the buyer.
(5) A firm may be compensated by more than one party for real estate brokerage services in a real estate transaction, if those parties consent in writing at or before the time of signing an offer in the transaction.
(6) A firm may receive compensation based on the purchase price without breaching any duty to the buyer or seller.
(7) Nothing contained in this chapter negates the requirement that an agreement authorizing or employing a broker to sell or purchase real estate for compensation or a commission be in writing and signed by the seller or buyer.
[ 2013 c 58 § 9; 1997 c 217 § 6; 1996 c 179 § 8.]
NOTES:
Real estate agency pamphlet—1997 c 217 §§ 1-6: See note following RCW 18.86.120.
Effective date—1997 c 217 §§ 1-6 and 8: See note following RCW 18.86.020.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.