Contracts
Which of the following is the most important difference between a listing agreement and a property management agreement?
ABoth create agency relationships, but a listing focuses on sale while management focuses on ongoing operations✓ Correct
BOnly listing agreements are governed by Alabama license law
CProperty management agreements do not require a license
DListing agreements are always shorter in duration
Explanation
Both create agency relationships between broker and owner, but a listing agreement targets the sale or lease of the property, while a property management agreement governs the ongoing management of the property.
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