Agency
What is a net listing and why is it generally discouraged in Ohio?
AA listing where the agent earns a percentage above the listed price; it can create conflicts of interest✓ Correct
BA listing without a set expiration date
CA listing where the seller nets a guaranteed amount
DA multiple-agent listing arrangement
Explanation
A net listing sets a minimum price for the seller; anything above that is the agent's commission. This creates conflicts of interest, may encourage agents to withhold offers, and is discouraged or heavily regulated in many states.
Related Ohio Agency Questions
- An Ohio listing agreement creates an agency relationship between the seller and:
- Under Ohio agency law, an agent who receives 'secret profits' from a transaction without the principal's knowledge and consent is:
- Ohio's agency disclosure law requires that a licensee provide the Agency Disclosure Statement:
- What is an exclusive right to sell listing vs. exclusive agency listing?
- Which of the following would create an 'apparent authority' for an Ohio real estate agent?
- What is a designated agency in Ohio?
- What is a multiple listing service (MLS) and what are a member's obligations?
- In Ohio, the 'procuring cause' doctrine helps determine which broker is entitled to a commission when:
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