Contracts
In Delaware, which type of listing agreement gives the broker an exclusive right to sell AND earn a commission even if the owner finds their own buyer?
AOpen listing
BExclusive agency listing
CExclusive right to sell listing✓ Correct
DNet listing
Explanation
An exclusive right to sell listing guarantees the broker a commission if the property sells during the listing period, regardless of who finds the buyer — including the seller themselves.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Math Concepts
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