Property Management
In Hawaii, a 'net listing' in property management would mean:
AA. The property manager keeps all rent above a specified amount
BB. A listing where the broker keeps any proceeds above the seller's net price✓ Correct
CC. A lease net of all tenant operating expenses
DD. A management agreement with no management fee
Explanation
A net listing arrangement where the broker keeps everything above the seller's stated net price creates a conflict of interest and is discouraged or highly restricted in Hawaii.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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