Agency
An exclusive agency listing in New Mexico differs from an exclusive right-to-sell listing in that:
ABoth provide the same protection to the broker
BWith an exclusive agency, the seller can sell the property themselves without owing a commission✓ Correct
CWith an exclusive agency, multiple brokers may be listed simultaneously
DThe exclusive agency listing is always for commercial properties
Explanation
Under an exclusive agency listing, the broker earns a commission if they or another broker sells the property, but the seller retains the right to sell independently and owes no commission if they find their own buyer.
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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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Math Concepts
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