Hoping to sell her property quickly, an owner pays her agent a fee for special marketing and advertising. This "advance fee":
A. is illegal
B. is permitted as long as it does not exceed $500
C. may be deposited into the agent's general operating account
D. must be deposited into a trust account
Answer: D. must be deposited into a trust account
Explanation: A broker may collect advance fees to cover unusual marketing and advertising expenses, or as an upfront fee for services not yet provided. Advance fees must be held in a trust account.
Business
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