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.
Which type of listing agreement gives the broker the least assurance that he or she will receive compensation for his or her efforts?
Open listings are rare, since they offer the least assurance that the broker will receive compensation for his or her efforts. The most widely used agreement is the exclusive-authorization-and-right-to-sell listing.
Under which type of listing will an agent receive a commission only if he is the procuring cause of the sale?
Under which of the following listing will an agent receive a commission only if he is the procuring cause of the sale? Explanation: Under an open listing , the seller pays a commission only if the agent is the person responsible for bringing about the agreement between buyer and seller.
Which type of listing allows a seller to sell the property himself or herself without having to pay any commission to any designated broker?
An open listing is an exclusive contract. A seller can sell his or her own home and owe no commission if he or she signs an exclusive agency listing. An exclusive listing must always be at least 30 days long.
What is a net listing in real estate?
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 is the most desirable type of listing to have?
To alleviate the problem, the agent assigns the agreement to a competing broker. ... The agent cannot assign the listing agreement. From an agent's point of view, the most desirable form of listing agreement is a(n) exclusive right to sell .
Which type of listing is least attractive to a broker?
| What happens if the broker cancels the listing or otherwise defaults? the client may sue the broker for money damaes | Which type of listing is least attractive to a broker? Open |
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What are the three most common types of listing?
What are three most common types of listing? Open listing, exclusive right to sell listing, and exclusive agency listing thing .
Which kind of listing agreement is one where the seller will pay a commission to her broker unless the seller sells the property herself?
In an exclusive agency listing, the seller retains the right to sell the property, with no obligation to the broker. With exclusive right-to-sell listings , the broker receives a commission regardless of who sells the property.
Is a listing agreement legally binding?
A listing agreement is a contract between you — the property owner — and a real estate broker. The contract authorizes them to represent you and find a buyer for the property. The agreement is legally binding and gives the real estate agent or broker the right to sell your home.
Why is a net listing considered unprofessional?
California's position on net listings is that “ they can easily lead to a breach of the agent's fiduciary obligations and should be used only with highly sophisticated clients, or clients who are independently represented and, of course, with full disclosure of all of the conflicts involved.”
What are the 5 types of agency?
The five types of agents include: general agent, special agent, subagent, agency coupled with an interest, and servant (or employee) .
Which is true about listings a net listing is illegal in all states?
ANSWER: No. The type of listing the real estate agent suggested is called a “net listing.” It is illegal in some states and very dangerous in every state .
What are the three types of buyer's agreements?
What are the three types of Buyer's Agreements? – Exclusive purchase, exclusive seller, and closed buyer agency .
Which listing contract do most buyers prefer?
An exclusive right to sell listing is the most widely-used listing agreement. Under this agreement, the broker has the exclusive right to market the property for a specified period of time.
What are the 4 types of real estate?
There are five main categories of real estate: residential, commercial, industrial, raw land, and special use . You can invest in real estate directly by purchasing a home, rental property or other property, or indirectly through a real estate investment trust (REIT).
