Question

Broker Reed had an open listing on a house. To collect commission, he would have to prove which of the following?

(A) That he had a current real estate license.
(B) That he had a ready, willing, and able buyer.
(C) That he was the procuring cause of the sale.
(D) All of the above.

Answer 1

Broker Reed must demonstrate that he has a current real estate license, found a ready, willing, and able buyer, and was the procuring cause of the sale in order to collect his commission from an open listing, which is choice (D) All of the above.

Step-by-step explanation:

Broker Reed had an open listing on a house, which means that to earn a commission for a sale, he must meet certain criteria. The correct answer here is (D) All of the above. To elaborate:

1. (A) Having a current real estate license is necessary to legally act as a real estate broker and facilitate real estate transactions.
2. He must have a ready, willing, and able buyer (B), indicating that the buyer is prepared to buy the property on the terms and conditions that are agreeable to the seller.
3. (C) Being the procuring cause of the sale means that the broker initiated an unbroken chain of events that led to the sale or lease of the property.

Therefore, Broker Reed would need to prove all of these points to collect his commission on the sale of the property.