Contracts
Under Vermont law, a real estate listing agreement creates an agency relationship between the broker and seller. What type of listing agreement gives only ONE broker the right to sell and the broker earns a commission even if the seller finds the buyer?
AOpen listing
BExclusive agency listing
CExclusive right to sell listing✓ Correct
DNet listing
Explanation
An exclusive right to sell listing guarantees the broker a commission if the property sells during the listing period, regardless of who finds the buyer — including the seller themselves. This is the most common listing type used in Vermont.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Math Concepts
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