Agency
Vermont's 'holdover clause' in a listing agreement protects the listing broker's commission when:
AThe listing expires before the property sells
BA buyer the broker introduced to the property during the listing period purchases it within the holdover period after expiration✓ Correct
CThe seller renews the listing at a lower commission
DThe seller sells the property themselves
Explanation
A holdover (protection) clause protects the listing broker's commission for a specified period after the listing expires, applying to buyers who were introduced to the property during the listing period — preventing sellers from circumventing the commission by waiting for expiration.
Related Vermont Agency Questions
- Which of the following best describes 'subagency' in Vermont real estate practice?
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