§ 33-28-308 — Compensation

Wyoming § 33-28-308

• Jurisdiction: Wyoming
• Title 33: Professions and Occupations
• Ch. 28: REAL ESTATE BROKERS AND SALESPERSONS
• Art. 3: BROKER RELATIONSHIPS

Text

(a) In any real estate transaction, the responsible
broker's compensation may be paid by the seller, the buyer, a
third party, or by the sharing or splitting of compensation
between responsible brokers.
(b) Payment of compensation shall not be construed to
establish an agency relationship or intermediary relationship
between the responsible broker and the party who paid the
compensation.
(c) A seller may agree that an intermediary, buyer's
agent, subagent or a licensee working with a buyer as a customer
may share in the compensation paid by the seller with another
responsible broker.
(d) A buyer may agree that a seller's agent, intermediary,
subagent or a licensee working with a seller as a customer may
share in the compensation paid by the buyer with another
responsible broker.
(e) A buyer's agent shall obtain the written approval of
the buyer before the buyer's agent may propose to the seller's
agent that the buyer's agent be compensated by sharing
compensation paid by the seller.
(f) Prior to entering into a written agreement with the
seller and buyer, or prior to entering into a contract to buy or
sell, the responsible broker shall disclose in writing to the
seller and buyer to the transaction, the agency, intermediary or
customer relationships of all parties, persons and entities
paying compensation to the responsible broker.
(g) A responsible broker may be compensated by more than
one (1) party for services in a transaction, if those parties
have consented in writing to the shared payment prior to seller
and buyer entering into a contract to buy or sell.
(h) An agreement authorizing a responsible broker who
originally agreed in writing to act as an agent to a buyer or
seller with respect to a particular real estate transaction to
act instead as an intermediary to that party, shall provide that
the party agreeing to the new relationship shall not be liable
for any compensation greater than the compensation the party
would have been liable to pay under the initial agreement. Any
contract provision in violation of this subsection is void and
unenforceable.