Question 64

The agent should instruct the seller to issue the check to the agent's broker.

In this situation, the selling agent must ensure that any bonuses received are processed according to brokerage policies. Therefore, the selling agent should instruct the seller to issue the check to the agent's broker.

A) immediately deposit the check in a savings account.

This option is incorrect because the agent should not deposit the check personally. The bonus should be handled as per the brokerage's policies, which typically require it to be issued to the broker rather than the agent directly.

B) instruct the seller to issue the check to the agent's broker.

This option is correct as it aligns with standard real estate practices where bonuses or commissions are typically paid to the brokerage rather than the individual agent. This ensures compliance with legal and ethical guidelines within the industry.

C) cash the check and give the broker a share of the bonus.

This option is incorrect because cashing the check personally undermines the brokerage's role and could violate regulations. The proper procedure requires the check to be issued to the broker, not cashed by the agent.

D) instruct seller that bonuses should be in the form of an electronic transfer.

This option is incorrect as well because while electronic transfers can be efficient, the seller's check had already been issued. The agent should focus on directing the seller to reissue the payment to the broker rather than changing the payment method after the fact.

Conclusion

The correct answer is B because it adheres to industry standards regarding the handling of commission and bonus payments. Options A, C, and D fail to comply with the necessary protocols that dictate how such bonuses should be processed, highlighting the importance of following proper procedures in real estate transactions.