Contracts
A NH listing agreement is best described as:
AA contract of sale between buyer and seller
BAn employment contract between the seller and the listing broker✓ Correct
CA buyer's agency agreement
DA property management contract
Explanation
A listing agreement is an employment contract (or agency agreement) between the property owner (seller) and the real estate broker. It authorizes the broker to market the property and sets the terms of compensation.
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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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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