Agency
A listing agreement is a contract between:
AThe seller and the buyer's agent
BThe seller and the listing broker✓ Correct
CThe seller's agent and the buyer
DThe MLS and the seller
Explanation
A listing agreement is a contract between the property seller (principal) and the listing broker (agent). It authorizes the broker to represent the seller in marketing and selling the property, and establishes the commission rate and terms.
Related Rhode Island Agency Questions
- A Rhode Island listing broker represents the seller and a cooperating broker brings a buyer. The cooperating broker owes fiduciary duties to:
- Under Rhode Island law, which statement about buyer agency agreements is correct?
- Which of the following best describes 'ratification' of agency?
- In Rhode Island, what is the consequence of a buyer's agent who purchases a property without disclosing their agent status to the seller?
- In Rhode Island, can a seller's agent tell a buyer that the seller is under financial pressure to sell quickly?
- In Rhode Island, an agent's duty of 'confidentiality' means the agent must NOT disclose which of the following?
- Under Rhode Island law, an agent's duty of 'reasonable care' (diligence) means the agent must:
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