Agency
Termination of a Utah listing agreement can occur by:
AOnly the seller's written request
BExpiration, mutual consent, completion, death of a party, destruction of property, or breach✓ Correct
COnly the broker's decision to terminate
DAutomatic renewal after the expiration date
Explanation
A listing agreement can terminate in several ways: by expiration of the agreed term, mutual agreement of parties, completion of the purpose (sale), death or legal incapacity of a party, destruction of the property, or breach by either party.
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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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