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When the real estate agent has produced a buyer who is ready, willing and able, the agent has generally done what?

A. Accounted to the principal
B. Earned a commission
C. Consummated the sale
D. Established personal competence

1 Answer

3 votes

Final answer:

A real estate agent earns a commission when they produce a buyer who is ready, willing, and able to purchase the property, fulfilling their obligation to the seller. Option B is correct.

Step-by-step explanation:

When a real estate agent has produced a buyer who is ready, willing, and able to purchase a property, the agent has generally earned a commission. This means that the agent has fulfilled their obligation to their principal (the seller) by finding a buyer who is prepared to buy the property under the terms the seller has established. Option B, earned a commission, is therefore the correct answer.

It's important to note that simply finding a buyer does not necessarily mean the sale has been consummated, as the sale is typically considered consummated once all the terms of the sale have been met, and the transaction has been closed. The agent has also shown personal competence and accounted to the principal by fulfilling their contractual duty, but earning the commission is the direct outcome of their effort to find a qualified buyer.

User Stefan De Boey
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