I am stumped on this question, sorry to ask for homework help, but i just can figure it out exactly...
An agent with a valid listing is generally considered to have earned commission...
A. only if the title is transferred.
B. when an offer has been secured from a prospective buyer.
C. when a ready willing and able offers to buy at the principles price and listing terms
D. only when the priciple signs the contract for sale.
2007-10-21 19:51:34 · 6 answers · asked by lacylynn420 2 in Business & Finance ➔ Renting & Real Estate
a is the answer the seller must get paid for the agent to get his fees and that takes a title transfer
2007-10-21 19:55:01 · answer #1 · answered by toon l 4 · 0⤊ 1⤋
The answer is selection "C". An agent (or his agency) has become entitled to a commission when a 'ready, willing, and able buyer" has tendered an offer to purchase at the seller's price and terms, even if the seller does NOT accept such offer. In my real estate career, we have collected commissions twice under such a scenario. Buyers who were able to purchase tendered offers to purchase at full price, and the sellers refused to accept. They were successfully sued for the full commission earned.
2007-10-22 00:59:00 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
The answer is C.
The house does not have to close for an agent to be legally entitled a commission.
However, very, very few agents force the issue on that small technicality.
That is a common question that is included in any real estate course.
2007-10-21 23:22:59 · answer #3 · answered by Expert8675309 7 · 1⤊ 0⤋
Yeah They Pretty much get 3%-6% Depdning on If They do B,C,D
Never Heard that agents do A Thats the brokers job
2007-10-21 19:55:14 · answer #4 · answered by PETA Rocks 3 · 0⤊ 2⤋
It depends on your agreement with the agreement of the seller. But usually we got our commission after the signing of the contract between the buyer and the seller.
2007-10-21 19:56:53 · answer #5 · answered by Vher 3 · 0⤊ 2⤋
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2007-10-22 02:58:54 · answer #6 · answered by Anonymous · 0⤊ 1⤋