Contracts
When a seller accepts an offer and the transaction closes, the listing broker has earned a commission under which type of listing?
AOpen listing only
BExclusive agency listing only
CExclusive right-to-sell listing✓ Correct
DNet listing only
Explanation
Under an exclusive right-to-sell listing, the listing broker earns a commission regardless of who produces the buyer — even if the seller finds their own buyer. This provides the broker the greatest protection of earning their commission.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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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