SUMMARY: Ch 2: Elements of a Listing Agreement

Question 1

Listing Agreement

Answer 1

• To be enforceable by the broker, a listing agreement must be in writing and signed by the seller.
• At a minimum, a listing agreement should contain a property description, state the required terms of sale, establish the scope of the broker’s authority, and include a promise of compensation.
• An exclusive agency or exclusive right to sell listing must also have a termination date.