Agency
Which clause in a listing agreement ensures the broker will be paid if the property sells to a buyer the broker introduced after the listing expires?
AAcceleration clause
BExtender (safety) clause✓ Correct
CSubordination clause
DDue-on-sale clause
Explanation
An extender or safety clause (protection period clause) entitles the listing broker to a commission for a specified period after the listing expires if the property is sold to a buyer the broker introduced during the listing.
People Also Study
Related Indiana Questions
- Which contract clause protects a listing broker's commission if the property sells to a buyer the broker introduced, even after the listing expires?Contracts
- The standard Indiana listing contract is the exclusive right-to-sell agreement. Under this agreement, the listing broker earns a commission if the property is sold:Indiana License Law
- Indiana's Listing Agreement typically includes which protection for the broker against the seller circumventing the listing to avoid paying commission?Contracts
- A property sells for $275,000. The commission rate is 6%. The listing broker and buyer's broker split the commission equally. How much does the listing broker receive?Real Estate Math
- A commercial property sold for $1,200,000 with a 4% commission. If the listing broker and cooperating broker split it 60/40, how much does the cooperating broker receive?Real Estate Math
- A property in Indianapolis sells for $320,000. The listing broker charges a 6% commission split equally between buyer's and seller's brokers. How much does each broker receive?Real Estate Math
- An Indiana home sells for $395,000. The listing broker splits the 5.4% commission equally with the buyer's broker. Each broker pays their agent 55%. How much does the listing agent earn?Real Estate Math
- An Indiana listing agent who sells the property to a buyer and receives the full 6% commission (both sides) has engaged in:Agency
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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.
Math Concepts
Study This Topic
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →