A Salesperson Received an Earnest Money Check from a Buyer

question 67

Multiple Choice

A salesperson received an earnest money check from a buyer on the listing of a co-op broker. What should the salesperson do with the check?

• A) Deposit it into his client trust account
• B) Sign it and pass it on to the seller
• C) Get it signed by the buyer and the seller and turn it over to his broker
• D) Hold the check until the contract has been signed by all parties

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Definitions:

Relationship Selling

The practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

Long-Term Connection

A relationship or partnership between individuals or entities that is intended to last for an extended period.

Cumulative Discounts

Discounts that increase with the quantity purchased over time, providing incentives for larger or repeated orders.

Push Marketing Strategy

A promotional strategy where businesses "push" their products or services onto consumers by using aggressive advertising and sales tactics.