Can an unlicensed assistant receive a cut of each New York closing?
Staff Q&A from the 63Hours team.
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Be careful with transaction-based compensation. DOS says assistants paid on a completed-transaction basis must be licensed salespersons and receive compensation from the broker. For genuinely unlicensed work, its guidance describes hourly, salaried or task-based payment. Have the broker review the duties and payment arrangement together before work begins.
References
General educational information. Confirm current requirements with the relevant licensing authority.
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