Contracts
A listing agreement that automatically renews unless cancelled is known as a:
ANet listing
BOpen listing
CEvergreen listing
DExclusive right to sell with automatic renewal clause✓ Correct
Explanation
Some listing agreements contain automatic renewal (evergreen) clauses that extend the listing period unless one party provides notice of cancellation. Oklahoma and NAR guidelines caution against automatic renewal clauses, as they may trap sellers.
People Also Study
Related Oklahoma Questions
- A lis pendens filed against an Oklahoma property provides notice that:Property Ownership
- A net listing in Oklahoma is a listing agreement where:Contracts
- When a tenant fails to pay rent in Oklahoma, the landlord must provide a written notice to pay or quit before filing for eviction. The required notice period is:Property Management
- The Oklahoma Real Estate License Code requires licensees to complete how many hours of continuing education per renewal period?Oklahoma License Law
- Under Oklahoma law, a listing agreement is a contract between the seller and:Contracts
- Which type of deed in Oklahoma provides the buyer with the greatest protection against title defects?Property Ownership
- Under Oklahoma law, an exclusive right-to-sell listing agreement means:Contracts
- An Oklahoma open listing agreement allows the seller to:Contracts
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.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Math Concepts
Study This Topic
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →