Chapter 10: Listing Agreements. Key Terms Flashcards
1
Q
Comparative market analysis: CMA
A
Price comparison for sellers use when listing their property.
2
Q
Multiple listing service: the MLS
A
Organization of brokers who work to sell each others listings.
4
Q
Exclusive agency listing
A
A listing that promises but the broker will be paid unless owners sell on their own.
5
Q
Net listing: (illegal in NJ)
A
Illegal listing: broker keeps everything above a certain figure.
6
Q
Open listing: (worst kind)
A
A listing given to any number of brokers: only selling broker is paid.
7
Q
Exclusive right to sell listing (Best kind)
A
A listing that states broker will be paid no matter who sells the listing.
