A series of fortunate events
Entitlement to a commission is determined by the cooperating broker’s performance as procuring cause of the sale. Here are some of the events an arbitration panel will analyze and consider in determining the procuring cause of a transaction. The factors aren’t always weighed the same, and not every factor is applicable in every instance.
1. Locating the property that meets a buyer’s needs
2. Conducting ongoing communication with the buyer
3. Showing the property
4. Discussing the benefits of the property with the buyer
5. Discussing possible terms with the buyer
6. Discussing financing with the buyer
7. Writing the offer
8. Negotiating the offer to acceptance
9. Helping the buyer obtain financing
10. Helping the buyer with the inspections
11. Performing all non-attorney duties leading to closing
12. Going to closing
Since each transaction is unique, it’s impossible to develop a comprehensive list of all issues or questions that panel members may want to consider in a particular hearing.