Chapter 10 National Book Flashcards
1
Q
Exclusive right-to-sell listing
A
one broker is employed
entitled to commission regardless
2
Q
Exclusive agency listing
A
one broker is employed
entitled to commission, unless seller finds one first- not entitled to commission
3
Q
Open listing
A
anyone can find the buyer, first one to find it gets the commission
4
Q
Net listing
A
broker receives set amount above asking price, illegal in many states (MD)
5
Q
What is CMA?
A
comparative market analysis
6
Q
Listing agreement
A
employment contract, an agreement to let the agent sell your house
7
Q
All listing agreements must contain…
A
a definite contract termination date
an expiration date
8
Q
Buyer representation agreement
A
buyer works with one broker but broker can still represent other buyer clients
