REAL ESTATE BROKERS - LICENSING BRANCH OFFICES
REAL ESTATE BROKERS ‑- LICENSING BRANCH OFFICES Brokers who employ salesmen in distant cities for the purpose of transacting business there must establish a branch office in accordance with RCW 18.85.190.
REAL ESTATE BROKERS - TRUSTEE ACCOUNT - COLLECTIONS
REAL ESTATE BROKERS ‑- TRUSTEE ACCOUNT ‑- COLLECTIONS All moneys received or collected by a real estate broker for a client are required to be kept in a special trust account. Where a person acts only as a collection agency it is not necessary that he be licensed under the real estate laws of Washington. Employees of real estate management firms and other individuals who engage in or who negotiate for rentals, leases, contracts, mortgages or any other interest described in RCW 18.85.010 (1) must be licensed in accordance with the real estate laws of the State of Washington.
REAL ESTATE BROKERS - ADVERTISING FEES - ADVANCED FEES
REAL ESTATE BROKERS ‑- ADVERTISING FEES ‑- ADVANCED FEES (1) A non-licensed person may sell advertising, but if the transaction in any way contemplates an act required to be licensed under chapter 18.85 RCW, then a violation of law has been committed. (2) A broker may receive compensation in advance of sales if the terms of his contract of employment so provide, but he may remain liable for its repayment in the event he fails to earn his commission.
REAL ESTATE BROKERS - ASSOCIATE BROKERS AND SALESMEN - LICENSE FEES - TEMPORARY PERMITS - TRANSFERS
REAL ESTATE BROKERS ‑- ASSOCIATE BROKERS AND SALESMEN ‑- LICENSE FEES ‑- TEMPORARY PERMITS ‑- TRANSFERS (1) A real-estate broker or salesman whose license has been suspended by order of the director is entitled to have his license reinstated upon a lifting of the suspension without the payment of additional fees. (2) A broker or salesman who has not paid his 1953 license fee prior to the effective date of the act increasing such fees must pay the new fee. (3) A temporary license issued to a salesman need not be replaced by a temporary permit under the 1953 act. (4) Applications for transfers of an associate broker's or salesman's license to a new broker not received in proper form and with the requisite fee prior to June 11, 1953, are governed by the higher fee schedule of the 1953 act.
REAL ESTATE BROKERS - DUTIES OF - COMMISSION OF - WHEN EARNED - DEFINITION OF "CLOSED" TRANSACTION
REAL ESTATE BROKERS -- DUTIES OF -- COMMISSION OF -- WHEN EARNED -- DEFINITION OF 'CLOSED' TRANSACTION
A. A real estate broker's commission is earned upon his supplying a purchaser ready, willing and able to buy according to seller's terms, and upon completing duties called for in the earnest money agreement, or his agreement with his principal.B. The broker's commission may be earned prior to final closing of a transaction, but the broker may not deduct it until he has completed all his duties and has accounted to his principal for sums coming into his hands.