Listing Contracts - Practice Quiz Show Terms in this set (61)The answer is all of these. A listing may be terminated by death of the principal broker or seller, bankruptcy of the principal broker or seller, destruction of the property, performance (producing a ready, willing, and able buyer), mutual consent of the principal broker and seller, or expiration of the listing period. Because listings create agency relationships, death of either party will terminate the listing, and the heirs are not bound to the contract. Bankruptcy and destruction of the property would make performance impossible, so they, too, terminate the listing. Sets with similar termsRecommended textbook solutions
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Mathematics with Business Applications6th EditionMcGraw-Hill Education 3,760 solutions Principles of Economics8th EditionN. Gregory Mankiw 1,335 solutions Other sections that may be found on a Property Disclosure Statement include the following: Water Sewer/On Site Sewage System Structural Systems and Fixtures Homeowner's Association/Common Interests Environmental Lead-Based Paint Recommended textbook solutionsAmerican Government1st EditionGlen Krutz 412 solutions Fundamentals of Engineering Economic Analysis1st EditionDavid Besanko, Mark Shanley, Scott Schaefer 215 solutions Myers' Psychology for AP2nd EditionDavid G Myers 900 solutions Human Resource Management15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine 249 solutions What describes an open listing?An open listing is a property that multiple brokers have the option to market and sell to earn commission on the sale of the home.
What is an open price listing?Open price means a sale without a settled price at time of shipment. It is expected in such sales that the price will be settled after the buyer has completed its resales of the product to its customers.
What is the difference between an open listing and an exclusive agency listing?Home sellers may have the option of offering a real estate agent an exclusive listing or an open listing. An open listing allows other local real estate agents to compete to find a buyer for the property. An exclusive listing gives the sole agent an incentive to work hard for the sale.
What is a listing quizlet?Listing Contract. Written agreement of employment with the property owner, whereby the owner lists his property for sale with the broker.
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