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Code · California · Business and Professions Code

§ 10147.5

311 words·~1 min read·/ca/business-and-professions-code/10147-5·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Any printed or form agreement that initially establishes, or is intended to establish, or alters the terms of any agreement that previously established a right to compensation to be paid to a real estate licensee for the sale of residential real property containing not more than four residential units, or for the sale of a mobilehome, shall contain the following statement in not less than 10-point boldface type immediately preceding any provision of such agreement relating to compensation of the licensee:
Notice: The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker.
(b)Any printed or form agreement that initially establishes or is intended to establish, or alters the terms of any agreement that previously established a right to compensation to be paid to a real estate licensee for the purchase of residential real property containing not more than four residential units, or for the purchase of a mobilehome, shall contain the following statement in not less than 10-point boldface type immediately preceding any provision of such agreement relating to compensation of the licensee:
Notice: The amount or rate of real estate compensation is not fixed by law. They are set by each broker individually and may be negotiable between the buyer and broker.
(c)The amount or rate of compensation shall not be printed in any such agreement described in subdivisions
(a)and (b).
(d)Nothing in this section shall affect the validity of a transfer of title to real property.
(e)As used in this section, “alters the terms of any agreement which previously established a right to compensation” means an increase in the rate of compensation, or the amount of compensation if initially established as a flat fee, from the agreement which previously established a right to compensation.
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