REAL ESTATE: Questions often arise from real estate agent/brokers, representing Buyers, which involve the term “Procuring Cause.” Please know that this term is necessary prior to an agent/broker receiving any commission from a real estate transaction. One definition, Procuring Cause is the cause originating a series of events, which, without break in their continuity, result in the prime objective. So, one must demonstrate an act (or acts) that cause a flow of events leading to a sale or closing. I would ask a colleague: Did you alert/inform the client about the actual listing prior to anyone else? Did you provide any open house schedules/information? Did you communicate or review details with the client (about the property) prior to the showing? Did you arrange the showing with the other (listing) realtor? From my view, an agent/broker should always be prepared to prove that he/she was the main cause of the chain reaction leading to the closing: this involves documenting your research and communications as much as possible.
Posted on: Thu, 01 May 2014 15:03:06 +0000
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