CE – Webinar: Broker Relationship Act – Escalation Clauses: Good or Bad?
This course is worth 1 hour of REQUIRED BRA CE!
If buyer 1 puts in an offer of $500,000 on a home priced at $499,000 and buyer 2 offers $501,000 then buyer 2 should get the house, right? Well, not if buyer 1 has an escalation clause increasing her offer to $1,000 above the highest bidder up to a cap of $510,000. In the aforementioned case, buyer 1 would get the house for $502,000. In the employment of escalation clauses, we have some code issues we must contend with in keeping with the Oklahoma Brokerage Relationship Act. Since escalation clause are part of our market practices, we need to make sure we are in full compliance.
This class is a webinar and will be taught by Larry Starbuck.