Chapter 3 - Agency and the Listing Agreement Flashcards
a real estate listing is
Employment contract
an agency most often refers to the relationship between
the principal and the agent
a listing contract is basically a
bilateral contract
open listings
don’t benefit from the exposure of a multiple listing service, are the least desirable form of listing
if an owner enters into an exclusive agency listing and thereafter sells the property through his or her own efforts
no commission is payable
exclusive agency listings are placed with an MLS
rarely
most Brokers with an exclusive agency listing will insist that an owner
quotes the same asking price as the broker
from a broker’s point of view, the most desirable listing is the
exclusive right to sell
a listing that provides the agent is to retain all the money received in excess of a predetermined that price to the owner is the
net listing
a listing office/agent will be fine for not updating all pending and sold properties on an MLS within
48 hours
which of the following is a marketing database of listing of properties for sale, set up by a group of cooperating real estate brokers
multiple listing service
in California, the listing agent
can also represent the buyer if both buyer and seller agree
by definition in practice, as a salesperson, you are an agent of
your broker
how a house appears to a passerby, compared to the rest of the neighborhood is called
curb appeal
to obtain the legal description, lot size, zoning, and surrounding streets in the same tract as the subject property, most agents use
title companies
