Chapter 8 agency contracts and related practices Flashcards
North Carolina listing agreement requires?
Be signed by all parties and include licensees number with a definite period time and it must be in writing
Open listing
Pay only the broker who brings the buyer and you can have multiple brokers but this is rarely used
Exclusive agency listing
Pace if any broker find the bar you sometimes for sale by owner
Exclusive rights To sell listing
Paige regardless of who sells the property this is the most common
Commission
All monies must pass through the firm
Never A fixed percent
What is procuring cause?
It means you were involved in an unbroken chain events that cause the cell to happen and you get a commission and it must be in writing
What things terminate a lease
Completion of the agreement or expiration of terms, mutual agreement or breach of contract, bankruptcy or distraction of property or death of client
Who Deaths terminate what?
Death of a property terminates listing, death of seller terminate the listing, death of the firm terminate the listing, but death of the licensee does not
Do not call rule
In state and federal must check every 31 days at the registry
It’s OK to call if a business relationship Of the 18 months or three months after consumer inquiries
What is the Sherman antitrust act
No price fixing or unfair competitive practices in boycotting
The advertisements require?
All advertises require bic or firm approval name of bic or firm
