Agency
What is 'termination of agency' and how may a listing agency relationship end in Hawaii?
AA. Agency can only end upon successful closing of a transaction
BB. Agency may end by completion of the purpose, expiration of the term, mutual agreement, revocation by the principal, renunciation by the agent, or by operation of law (death, incapacity, bankruptcy)✓ Correct
CC. Only the Real Estate Commission may terminate an agency relationship
DD. Agency ends automatically 60 days after it begins if no sale occurs
Explanation
An agency relationship may terminate in several ways: (1) completion of the agency purpose, (2) expiration of the contract term, (3) mutual agreement, (4) revocation by the principal (though they may owe the broker compensation), (5) renunciation by the agent, or (6) by operation of law (death, incapacity, or destruction of subject matter).
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