Real Estate Practical (5)

•A brokerage agrees to represent the seller in the sale of a property. The listing contract states that the broker will receive a fee of N20,000 Naira from the seller at closing, regardless of the sales price. Is this a valid form of compensation?

1.Yes, compensation can be long be determined In any number of ways, as long as the seller and the broker/agent agree.

2.No; a flat fee exposes the seller to being cheated.

3.Yes; the broker is suppose to charge what the traffic will  bear

4.No; the seller should pay on a basis of a stated percentage of contract price.