Agency
In Tennessee, a seller's listing agreement obligates the seller to pay the commission when the broker produces a ready, willing, and able buyer. 'Able' buyer means:
AA buyer who has made a written offer
BA buyer who has the financial capacity to complete the purchase✓ Correct
CA buyer who has been pre-approved by a lender
DA buyer who has viewed the property at least once
Explanation
An 'able' buyer is one who has the financial capacity and resources to complete the purchase under the terms offered. This typically means they have available funds and/or can qualify for financing sufficient to complete the transaction.
Related Tennessee Agency Questions
- The Knoxville Association of REALTORS® Code of Ethics is:
- An agent's duty of 'reasonable care and diligence' means the agent must:
- A Tennessee licensee who represents a first-time homebuyer owes a heightened duty because:
- Under Tennessee license law, a real estate team's designated team leader must be:
- The Tennessee 'Preamble to License Law' states that the purpose of real estate licensing is to:
- In Tennessee, an agent who discovers a structural defect during a showing must:
- In Tennessee, a seller's broker who shows a buyer properties listed by other firms (as a cooperating broker) represents:
- In Tennessee, a broker who solicits a listing from a property owner whose property is already listed with another broker is engaging in:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →