Table of Contents
“The exclusive right to sell listing is preferred by most brokers, because it provides the MOST PROTECTION for the broker. It’s the type of listing that’s most commonly used.
Which type of listing agreement is the most popular with brokers?
An exclusive right-to-sell listing is the most commonly used contract. With this type of listing agreement, one broker is appointed the sole seller’s agent and has exclusive authorization to represent the property.
Which type of listing provides the most incentive for a broker to market a property?
There’s a reason the exclusive listing agreement is so dominant: It gives the listing firm and agent the most incentive to market and sell a property and get it to closing. Many agents will tell you the easiest part of selling a house is showing it. Next comes agreeing on terms and signing a contract.
What is option listing in real estate?
Here’s what happens when the house seller signs an Option Listing: he gives someone (a home buyer, a real estate agent or a broker) the option to purchase the property within a certain period of time at a pre-determined price.
What type of listing is a non-exclusive contract authorizing a broker to serve as the agent for either the sale or the purchase of property?
An open listing is a non-exclusive contract, authorizing a broker to serve as the agent for either the sale or the purchase of property. With this type of listing, a broker is not under the same obligation to perform as with other listing agreements; so an open listing is often considered to be a unilateral contact.
Which is a broker’s favorite type of listing agreement quizlet?
“The exclusive right to sell listing is preferred by most brokers, because it provides the MOST PROTECTION for the broker. It’s the type of listing that’s most commonly used.
On what type of listing or listings may a net listing be used in states where they are legal quizlet?
Net listings can be written for exclusive right to sell, exclusive agency, or open listings.
Which type of listing is least attractive to a broker quizlet?
Which type of listing is least attractive to a broker? Exclusive right to represent agreement.
What is net listing?
A net listing is technically not a type of listing agreement at all. In a net listing, an owner sets a minimum amount that he or she wants to receive from the sale of the property and lets the broker have as commission any amount above the set minimum.
What does exclusive agency listing mean?
Exclusive Agency Listing: A contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker if the property is sold through the efforts of any real estate broker.
On which type of listing contract is a broker required to state the amount of their commission is negotiable and not fixed by law?
In listing agreements for one- to four-unit residential properties, state law requires a provision in BOLDFACE TYPE stating that the amount or rate of the commission is not fixed by law, and is negotiable between the seller and broker.
Which of the following are contingencies in a real estate contract?
Common contingencies in real estate include an appraisal contingency, inspection contingency, sale contingency or a funding contingency.
Which of these may a sponsoring broker dictate to an independent contractor?
Which of these may a sponsoring broker dictate to an independent contractor? The answer is compensation the person would receive. The employment agreement defines the employment or independent contractor relationship, including supervision, duties, compensation, and termination.
What does listing terms conventional mean?
A conventional sale is when the property is owned outright (has no mortgage remaining) or the owner owes less on their mortgage than what the market indicates the owner could sell their property for.
What is the most common type of residential listing?
Open listings are the most common type. Under an open listing, the property owner offers a real estate broker a commission, usually a percentage of the sale, if the the property is sold.
Is a listing agreement a unilateral contract?
Sales contracts and listings are examples of bilateral contracts. In a listing contract, the seller promises to pay if the agent promises to procure a purchaser. A unilateral contract is a one-sided agreement-that is, only one party makes a promise to perform.
Which type of listing agreement gives the broker the greatest assurance of getting a commission?
The exclusive listing gives the listing broker the greatest assurance of receiving compensation for marketing efforts. In some states, an exclusive right-to-sell listing is enforceable only if it is in writing and has an expiration date.
What is the most common form used for a listing?
An exclusive right-to-sell listing is the most common type of listing. It gives the broker the exclusive right to earn a commission by representing the owners and bringing a buyer, either through another brokerage or directly. As the owner, you pay both the listing and selling broker fees.
In which type of listing agreement does a seller employ multiple brokers?
A listing agreement in which the seller retains the right to employ any number of brokers as agents is called a multiple listing.
Which of the following scenarios best describes a net listing?
Which of the following best describes a net listing? The seller reserves the right to sell the property and not have to pay a commission. The seller specifies a price desired for the property and agrees to pay the broker any amount received above that price.
Which of the following types of listing agreements provides that the broker will get paid regardless of who buys the listed property?
Exclusive right to sell listing: In this agreement, the agent gets paid no matter who sells the property, regardless of whether it’s the agent or the seller. Exclusive agency listing: Agents get paid in this type of agreement only if they sell the property.
Which type of listing is not legal in some states because it can lead to a conflict of interest?
Because a broker is free to offer the property at any price greater than the net amount to be paid to the seller, a net listing can create a conflict of interest between the broker’s fiduciary responsibility to the seller and the broker’s profit motive. Net listings are illegal in many states and discouraged in others.
Which type of estate is an encumbrance?
An encumbrance is a claim against a property by a party that is not the owner. An encumbrance can impact the transferability of the property and restrict its free use until the encumbrance is lifted. The most common types of encumbrance apply to real estate; these include mortgages, easements, and property tax liens.
