Agency
Termination of a Utah listing agreement by mutual consent requires:
ADivision of Real Estate approval
BWritten agreement by both the seller and the listing broker✓ Correct
CAutomatic termination after the listing expires
DA court order
Explanation
Mutual cancellation of a listing agreement requires written agreement by both the seller and the listing broker, releasing each party from further obligations under the agreement.
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- Termination of a Utah listing agreement can occur by:Agency
- A Utah listing agreement that does not specify a definite termination date:Utah License Law
- When a Utah licensee provides real estate services without a written agency agreement, the agency relationship that may be implied is called:Agency
- A Utah listing agreement is a contract between:Contracts
- An open listing agreement in Utah allows:Agency
- A Utah listing agreement is automatically renewed if:Contracts
- In Utah, a contract that requires one party to perform an illegal act is:Contracts
- A Utah agent who represents both buyer and seller in the same transaction without full written consent is engaged in:Agency
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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