Flashcards in 6 Listing Presentations And Listing Contracts Deck (8)
A listing agreement employing a broker as sole agent for a seller of real property under the terms of which the broker is entitled to compensation if the property is sold through any other broker, but not if a sale is negotiated by the owner without the services of an agent.
A listing agreement employing a broker as agent for a seller of real property under the terms of which the broker is entitled to compensation if the listed property is sold during the duration of the listing, whether by the listing agent, another agent, or the owner acting without the services of an agent.
A listing agreement providing that the agent may retain as compensation for services all sums received over and above a net price to the owner.
-Non exclusive listing
-the nonexclusive right to secure a purchaser, given by a property owner to a real estate agent
-more than one agent may be given such authorization, and only the first to procure a ready, willing, and able buyer— or an offer acceptable to the seller— will be entitled to compensation.
-The cause originating a series of events that lead directly to the intended objective
-in a real estate transaction, the procuring cause is the real estate agent who first procures a ready, willing, and able buyer
A clause that protects the broker’s commission when a sale is consummated after a listing expires to a buyer procured by the broker.
A sale for less than is owed on a loan where the lender agrees to accept sale proceeds to extinguish the debt.