Contracts
In Idaho, an 'exclusive right-to-sell' listing agreement means:
AThe seller may sell the property themselves without paying commission
BThe broker earns a commission if the property sells during the listing period, regardless of who procures the buyer✓ Correct
COnly the listing broker may show the property
DThe property is exclusively marketed to one buyer
Explanation
An exclusive right-to-sell listing entitles the broker to a commission if the property sells during the listing period, regardless of who finds the buyer — even if the seller finds their own buyer without the broker's involvement.
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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.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Math Concepts
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