Agency
In Tennessee, an 'open listing' allows the seller to:
AList exclusively with one broker
BList with multiple brokers, paying only the broker who produces the buyer✓ Correct
CSell the property without paying any commission
DChange the listing price daily without broker consent
Explanation
An open listing allows the seller to list with multiple brokers simultaneously. Only the broker who produces the buyer earns the commission.
Related Tennessee Agency Questions
- Under Tennessee law, when a buyer and seller in a transaction are both represented by different licensees from the same brokerage, and the principal broker does NOT intervene, this situation is most accurately described as:
- A Tennessee listing agreement that describes the property incorrectly could result in:
- In Tennessee, an affiliated licensee who acts as a dual agent without written consent from both parties faces:
- An agency relationship is generally terminated by all of the following EXCEPT:
- In Tennessee, a broker's duty to a seller under a listing agreement includes all of the following EXCEPT:
- A Tennessee licensee representing a seller discovers that the seller committed fraud in a previous real estate transaction. The licensee should:
- The real estate doctrine of 'caveat emptor' (let the buyer beware) has been significantly limited in Tennessee by:
- Ratification in agency law means:
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