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REVISED FEBRUARY 25, 2010, PROCURING CAUSE GUIDELINES (THESE ARE MERELY GUIDELINES, NOT RULES) Procuring Cause for the purpose of this policy refers to the right to the selling portion of the commission

How to fill out procuring cause guidelines

How to Fill Out Procuring Cause Guidelines:

1. Familiarize yourself with the purpose of procuring cause guidelines. Procuring cause guidelines are used in real estate transactions to determine which agent or broker is entitled to receive a commission. These guidelines help establish a fair and objective process for resolving disputes related to commission splits.
2. Review the specific procuring cause guidelines provided by your brokerage or the real estate association you belong to. Each organization may have slightly different guidelines, so it's important to be familiar with the specific requirements you need to follow.
3. Gather all the necessary documentation related to the transaction in question. This may include the purchase agreement, any addendums or amendments, buyer and seller disclosures, agent representation agreements, and any communication records such as emails or text messages.
4. Carefully review the documentation to determine the timeline of events and interactions between agents and clients. Look for any key actions or contributions that may have influenced the buyer's decision to purchase the property.
5. Identify the relevant factors that are typically considered in procuring cause disputes. These factors often include the initial introduction of the buyer to the property, ongoing efforts to educate and assist the buyer, providing property tours or showing, negotiation assistance, facilitating the offer and acceptance process, and any other significant contributions to the transaction.
6. Evaluate the actions and contributions of all agents or brokers involved in the transaction. Consider who was actively involved with the buyer throughout the purchase process and who demonstrated the most effort and influence.
7. Use the procuring cause guidelines to objectively assess and compare the agents' or brokers' actions and contributions. Some guidelines may use a points system or specific criteria to determine the likelihood of procuring cause.
8. Document your findings and recommendations based on the procuring cause guidelines. Clearly explain the reasons behind your conclusions and ensure that your assessment is supported by the documentation and evidence gathered.
9. Present your completed procuring cause assessment to the appropriate parties involved in the transaction, such as your brokerage management, the buyer and seller, and any other relevant stakeholders. Be prepared to defend and explain your reasoning if necessary.
10. Follow any additional steps or guidelines provided by your brokerage or real estate association for resolving procuring cause disputes. This may involve mediation or arbitration processes to reach a resolution that is fair and satisfactory to all parties involved.

Who Needs Procuring Cause Guidelines:

1. Real estate agents and brokers: Procuring cause guidelines are crucial for agents and brokers as they define the rules and criteria for determining who is entitled to receive a commission in a real estate transaction. Agents and brokers need to understand these guidelines to ensure they are properly compensated for their efforts and contributions.
2. Buyers and sellers: While buyers and sellers may not be directly involved in the application of procuring cause guidelines, it is important for them to be aware of these guidelines and the potential impact they may have on commission payments. Understanding procuring cause guidelines can help buyers and sellers better understand the role of agents and brokers in their transaction and potentially avoid conflicts or misunderstandings.
3. Real estate associations and organizations: Real estate associations and organizations typically create and enforce procuring cause guidelines to promote fairness and professionalism in the industry. These guidelines help standardize commission disputes and provide a framework for resolving conflicts. Real estate associations and organizations play a vital role in educating their members about procuring cause guidelines and ensuring compliance with these guidelines.

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What is procuring cause guidelines?

Procuring cause guidelines are set of rules and regulations that determine which real estate agent or broker is entitled to receive a commission on a real estate transaction.

Who is required to file procuring cause guidelines?

Real estate agents or brokers involved in a real estate transaction are required to file procuring cause guidelines.

How to fill out procuring cause guidelines?

Procuring cause guidelines can be filled out by providing information about the parties involved in the real estate transaction, the services provided by the real estate agents or brokers, and any agreements or contracts related to the transaction.

What is the purpose of procuring cause guidelines?

The purpose of procuring cause guidelines is to establish a clear and fair process for determining which real estate agent or broker is entitled to receive a commission on a real estate transaction.

What information must be reported on procuring cause guidelines?

Information such as the names of the parties involved, the services provided, any agreements or contracts, and the details of the real estate transaction must be reported on procuring cause guidelines.