IOWA SECURITIES COMPANY v. Schaefer

The life of a real-estate broker is in some respects a precarious one. He must procure an offer upon terms stated or at least satisfactory to his principal, or at least be the effective cause of a sale. If he fails to do one of these things, his efforts, no matter how diligent, will be without material reward. On the other hand, if he becomes entitled to compensation, it will generally be substantial. He operates upon the principle that the greater the risk of no pay, the greater the amount if he becomes entitled to his commission; or so it seems, at least, to the laj'man. With him, it is all…