Agency Contracts Flashcards
1
Q
Procuring cause of sale
A
Requires and agent to prove he is the primary foundation upon which the sale was built.
Usually used in an open listing
2
Q
Exclusive right to sell
A
Grants the agent the ability to receive a commission regardless of who actually sells the house.
3
Q
Ready willing and able
A
A buyer who has been pre approved and has the ability to purchase a property. Also is willing
4
Q
Retainer fee
A
A small monetary amount paid in advance to an agent for his services.
5
Q
Success fee
A
May be received from the seller if the seller agreed to compensate the buyer.
Also could be from the buyer
