Agency
In Alaska, when is the agency relationship between a listing agent and seller typically terminated?
AWhen the seller receives their first offer
BWhen the listing expires, the transaction closes, or the parties mutually agree to terminate✓ Correct
CWhen the seller asks for a price reduction
DAfter 6 months regardless of the listing term
Explanation
The agency relationship terminates when the listing expires, the transaction closes (performance), the parties mutually agree to cancel, one party breaches the agreement, or the subject matter (the property) is destroyed. Death of the principal may also terminate the relationship.
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