Michigan Salesperson PSI Practice Exam

If three brokers are involved in an open listing and one broker sells the property, who receives the commission?

All brokers The listing broker The buyer's broker Only the broker who sold the property

Correct Answer:

Only the broker who sold the property

Explanation:

In an open listing, the seller may work with multiple brokers, and the fee is earned only by the broker who actually brings a buyer who closes the deal. Since one broker was the one who sold the property, that broker is the one entitled to the commission. The other brokers didn’t procure the sale, so they don’t receive a commission under this type of listing.

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