Osceola ReVIEW - August 2008 - (Page 7) Knowledge Services News. Continued from Page 6. 8. A request for arbitration is most commonly based on a dispute about: • A listing commission. • A cooperative (selling) commission. • An earnest money dispute. • A claim for damages. 9. The concept of procuring cause is used to decide commission disputes in arbitration cases. Which of the following statements is true about the concept of procuring cause? • No predetermined rules of entitlement are allowed to be used by a hearing panel. • A hearing panel should not consider the entire course of conduct in the transaction and should decide the case on one factor. • Whether an agent abandoned or estranged a buyer is not an important factor in determining which party will receive an award. • Generally, a hearing panel should split an award and should not make the award all to one party or the other. 10.REALTORS® have an obligation to protect and promote the interests of their clients but also have an obligation to treat all parties: • • • • Fairly. Honestly. Fairly and honestly. Politely. 11. If a listing broker tells another broker, “I’ll cooperate with you,” the other broker: • May assume that the listing broker will pay him/her a cooperative commission. • May not assume that the listing broker will pay him/her a cooperative commission. • Has an arbitration claim against the broker if the listing broker fails to pay a cooperative commission. • Has a legal claim for the cooperative commission against the listing broker if the listing broker refuses to pay a cooperative commission. 12.A cooperating broker in a transaction may: • Claim to have “sold” the property involved in the transaction. • Post a “sold” sign on the property involved in the transaction after the closing (with the buyer’s permission). • Not claim to have “sold” the property but may state that they have “partici pated” or “assisted” in the transaction. • Both A and B. Continued on Page 8. August 2008 Osceola ReVIEW 7 http://homes.com
Table of Contents Feed for the Digital Edition of Osceola ReVIEW - August 2008 Osceola ReVIEW - August 2008 President's Perspective CEO Perspective Education Corner Association Staff Knowledge Services News Association Newsmakers Association Leadership Welcome New Members New Affiliate Offices Osceola ReVIEW - August 2008 Osceola ReVIEW - August 2008 - Osceola ReVIEW - August 2008 (Page 1) Osceola ReVIEW - August 2008 - Osceola ReVIEW - August 2008 (Page 2) Osceola ReVIEW - August 2008 - President's Perspective (Page 3) Osceola ReVIEW - August 2008 - CEO Perspective (Page 4) Osceola ReVIEW - August 2008 - Education Corner (Page 5) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 6) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 7) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 8) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 9) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 10) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 11) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 12) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 13) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 14) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 15) Osceola ReVIEW - August 2008 - New Affiliate Offices (Page 16)
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