Agency
Which of the following describes a 'net listing' in Alabama?
AA listing where the broker earns commission only if the price exceeds the seller's minimum net✓ Correct
BA listing agreement limited to internet advertising
CA listing with a fixed commission regardless of sale price
DA listing on the MLS with a net price to buyers
Explanation
A net listing sets a minimum net amount the seller will receive; the broker keeps anything above that amount as commission. Net listings are considered ethically problematic and are discouraged in Alabama.
Related Alabama Agency Questions
- When must an Alabama licensee provide a consumer with the 'Understanding Agency' disclosure?
- The term 'procuring cause' determines which broker earned the commission by identifying:
- In Alabama, a written brokerage agreement that creates an agency relationship between a broker and seller is called a:
- A licensee working with a buyer who has not signed a buyer representation agreement is considered to be:
- The duty of 'accounting' in a real estate agency relationship requires the agent to:
- A buyer's agent in Alabama has a duty to:
- Which of the following best describes the concept of 'ratification' in agency law?
- A subagent in Alabama represents:
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