Agency
In South Dakota, when a seller terminates a listing agreement before its expiration date without cause, the seller may be liable to the broker for:
ANothing, as either party can terminate at any time
BThe commission that would have been earned if the property had sold during the listing period✓ Correct
COnly the marketing expenses incurred by the broker
DA penalty equal to twice the commission amount
Explanation
If a seller terminates an exclusive listing agreement before its expiration without justification, the seller may be liable to the broker for damages, which could include the commission that would have been earned. The specific remedy depends on the listing contract terms.
Related South Dakota Agency Questions
- In South Dakota, which of the following is a material fact that a listing agent must disclose to buyers?
- In South Dakota, a real estate licensee who provides services to a party without establishing a formal agency relationship (such as answering general questions) is best described as providing:
- In South Dakota, the agent's duty of 'accounting' to the principal means the agent must:
- In South Dakota, a listing agent who receives multiple offers on a property should:
- In South Dakota, a buyer's agent who discovers a zoning change that will allow commercial development adjacent to the residential property the buyer is considering should:
- In South Dakota, when does a buyer's agent's authority typically terminate?
- In South Dakota, an agent who continues to act on behalf of a principal after the agency has been terminated is:
- A South Dakota listing agent who is also a licensed contractor wants to purchase a property they are listing. They must:
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →