A broker enters into a listing contract with a seller. The broker markets the property for several weeks and receives four offers. The seller selects the highest bid and ultimately closes on the property. However, the seller refuses to pay the broker their commission. What happens next? The broker can negotiate a smaller commission with the seller. О The broker can take legal action against the seller to obtain the commission owed to them since they successfully found a buyer for the property. О The broker can force the buyer to pay the commission. The broker cannot do anything as a commission in this case is only optional.

A broker enters into a listing contract with a seller. The broker markets the property for several weeks and receives four offers. The seller selects the highest bid and ultimately closes on the property. However, the seller refuses to pay the broker their commission. What happens next? The broker can negotiate a smaller commission with the seller. О The broker can take legal action against the seller to obtain the commission owed to them since they successfully found a buyer for the property. О The broker can force the buyer to pay the commission. The broker cannot do anything as a commission in this case is only optional.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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