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Tuesday, 17 September 2019
Agent Resource Center
This Old House - Do-it-Yourself

Question – Copy of A client's property is listed with a broker under an open listing. After the broker shows the property to a prospective buyer, the broker should:

Posted On Tuesday, 20 August 2019 05:00

(A) Make up an official memo for the office
(B) Confirm the showing to the buyer with a written memo
(C) Notify the seller, in writing, as to the prospect's identity
(D) Wait until the prospect contacts the owner

 

Answer:  (C) When several open listings are given, the commission is considered to be earned by the broker who first finds a buyer who meets the terms of the listing, or whose offer is accepted by the seller. For this reason, it is important for the broker to make the seller aware of the fact that she is the procuring cause of any particular prospect with whom she has negotiated.

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