Agency
In an exclusive agency listing, the seller can sell the property themselves without:
ANotifying the broker
BOwing the broker a commission✓ Correct
CExposing the property on the MLS
DReducing the listed price
Explanation
Under an exclusive agency listing, the seller retains the right to sell the property personally without paying a commission, but owes a commission if any broker (including the listed broker) procures the buyer.
Related New Jersey Agency Questions
- An agent's duty to OBEY the principal's lawful instructions means:
- In an exclusive right-to-sell listing, the broker is entitled to a commission if the property is sold by:
- A fiduciary duty UNIQUE to an agent relationship (not owed to a customer) is:
- In New Jersey, when must a real estate agent disclose that they are a licensee if they are buying property for their own account?
- A NJ broker who represents both the buyer and seller in the same transaction without prior written consent is practicing:
- When a buyer's agent discovers a material defect about the property during a showing, they should:
- Under NJ law, an agent's authority to bind the principal (seller) is created by:
- In NJ, a 'procuring cause' dispute typically arises when:
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