Kansas License Law
Under Kansas law, what is required before a real estate broker can claim a commission on a sale?
AThe broker must have an oral agreement with the seller
BThe broker must have a written listing agreement (or buyer representation agreement) with the party they represent, as an oral commission agreement is generally unenforceable under the Statute of Frauds✓ Correct
CThe broker must file a commission claim with KREC
DThe commission is automatic upon closing regardless of agreements
Explanation
Under the Statute of Frauds, real estate commission agreements in Kansas must be in writing to be enforceable. An oral agreement to pay a commission is generally unenforceable, making a written listing or representation agreement essential.
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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.
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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Math Concepts
State-Specific Concepts
License Law
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