Check Your Understanding Answers
- The buyer’s agent should mention the potential for the buyer to consult with whom?
Other expert advisors such as attorney, CPA, etc.
- Agents know that an exclusive-right-to-sell or exclusive-right-to-buy agreement provides what?
Better control over the transaction
- Define procuring cause agent.
The procuring cause agent is the agent who ultimately caused the buyer to purchase the home.
- List three common misconceptions concerning buyer agency. (Additional correct answers on page 43.)
- Buyer agency must be created by written agreement to be lawful.
- Buyer agency is too complicated for the average buyer or seller to understand.
- Buyer agency is not recognized by lenders.
