Collaborative Closing Process- Buyer Agent Is A Non-BLC Member
If a listing agent has a pending transaction and the buyer agent is not a MIBOR member, the buyer agent code will be entered as 9999 to denote
a non-BLC member. Buyer Agent is Not a MIBOR Member. When the property has sold and the list agent/brokerage is ready to close the
transaction, the list agent will be prompted to enter the buyer financing terms as well as who paid the buyer agent compensation.
Add the pertinent information regarding the sale. The Buyer Representation "Yes" and Buyer Agent BLC ID "9999" information will display.
Navigate to the Buyer Financing and Buyer Agency Compensation Paid By fields. The Buyer Office/Agent
Certified Y/N field will default to "Yes" and auto-fill today's date in the Buyer Office/Agent Certified Date field.
Scroll up using the bar on the right. Select Save to mark the listing as Sold.
Note: See additional articles related to Collaborative Closing:
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