When is remuneration owed to the broker after a buyer visits a property?

The correct answer relates to the specific conditions under which a broker is entitled to receive remuneration after a buyer visits a property, particularly focusing on the 180-day rule in relation to the BCP (Brokerage Contract Period).

In the context of real estate transactions, if a buyer views a property while under a brokerage contract, the broker may be entitled to remuneration if the buyer later purchases the property, even after the brokerage contract has ended. The 180-day rule provides that if a buyer who visited a property within the BCP subsequently purchases that property within 180 days after the contract ends, the broker is still entitled to receive their commission. This rule protects the interests of brokers by ensuring that they are compensated for their services within a reasonable timeframe after their formal relationship with the buyer has concluded.

Understanding this helps in recognizing how brokers are safeguarded in situations where their efforts lead to a sale, even if there is a gap in formal engagement due to the expiration of the brokerage contract. The other choices do not align with the standard practices relevant to remuneration owed to brokers under the OACIQ guidelines, as they either misinterpret the timelines or conditions surrounding the commission entitlement.