Champions - Principles of Real Estate 1 - Chapter
11: Listing Agreements Questions and Answers with
Complete Solutions
Listing Agreement - ANSWER employment contract between a seller or
landlord and the broker
Types of Listing Agreements - ANSWER 1. Open listing
2. Exclusive agency
3. Exclusive right to sell
4. Net listing
Open Listing - ANSWER gives the seller the right to list the property with
multiple competing brokers and to sell the property personally without
liability for payment of a commission
Exclusive Agency - ANSWER the seller agrees to list the property with
only one broker during the listing term, with the provision that the
seller can sell the property independently, without paying a
commission.
Exclusive Right to Sell - ANSWER the broker is the only listing broker,
and a commission is paid even if the property is sold by the owner
11: Listing Agreements Questions and Answers with
Complete Solutions
Listing Agreement - ANSWER employment contract between a seller or
landlord and the broker
Types of Listing Agreements - ANSWER 1. Open listing
2. Exclusive agency
3. Exclusive right to sell
4. Net listing
Open Listing - ANSWER gives the seller the right to list the property with
multiple competing brokers and to sell the property personally without
liability for payment of a commission
Exclusive Agency - ANSWER the seller agrees to list the property with
only one broker during the listing term, with the provision that the
seller can sell the property independently, without paying a
commission.
Exclusive Right to Sell - ANSWER the broker is the only listing broker,
and a commission is paid even if the property is sold by the owner
