An owner selling her property as an FSBO asks her friend who is a broker associate to complete a Contract to Buy and Sell Real Estate and help her with the closing. The broker associate agrees to help and asks to be paid $500 under the table after the property closes. Which is TRUE about the broker associate?
a. If the broker associate completes the transaction without a listing contract with the brokerage firm, the associate will be in violation of Conway-Bogue
b. The broker associate may complete the contract but may not accept the fee
c. The broker associate would be in violation of Rule F for accepting the fee without going through the brokerage firm
d. The broker associate may complete the contract and accept the fee as long as income taxes are paid
Answer: a. If the broker associate completes the transaction without a listing contract with the brokerage firm, the associate will be in violation of Conway-Bogue
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