C) is liable to the buyer in the event of damages. Which of the following points is a similarity between an open listing and an exclusive agency listing? The broker with the open list that gets the buyer has the full commission. The broker with an exclusive right to sell listings will be offered a full commission if the property on the list is sold by someone during the duration of the listing. Both events have occurred. Two full commissions are due. A broker sold a home for 485,000 $US and received $US 26,675 as a commission under the terms of the listing agreement. What was the broker`s commission rate? All of the following reasons are valid bases for the termination of a buyer representation contract HORSSER A) Below each, the broker earns a commission, regardless of the owner who sells the property, as long as it is sold during the reference period. B) Of each, the seller avoids paying a commission to the broker when the seller sells the property to someone the broker has not bought. C) Any person grants a commission to any broker who procures a buyer for the seller`s property. D) Any person grants the exclusive right to sell to the broker who produces a buyer for the seller`s property. In case of several offers, the seller can accept the offer that suits him best, even if the price is not the highest.
The percentage commission is paid according to the accepted price. The seller, often in agreement with the real estate agent, may choose, for various reasons, to accept an offer lower than the highest offer, such as for example. B conditions or contingencies in the proposed sales contract or perceived differences in the financial qualification of competing buyers. A buyer has signed an agreement with a broker to compensate the broker, even if the buyer buys the property from a relative. This is called B) ) Among each, the seller avoids paying a commission to the real estate agent if the seller sells the property to someone that the broker did not buy. The personal property contained in a sale of real estate may include When listing the property, the real estate agency tries to find a buyer for the property and, in addition, in the successful search for a satisfactory buyer, the broker expects a commission (royalty) for the services provided by the brokerage company. D) This is a contract of employment for the professional services of the broker. Listing a property usually entails certain costs for the listing broker and requires some time and effort for the listing seller.
To make it worthwhile, they want a certain minimum listing period in order to have a good chance of selling the property. However, the listing contract must have an expiry date. A typical reference period is often three to six months. If the property is not sold by then or is part of a sales contract, the seller may decide to re-note or not to list the property at all, possibly with a different list price, with the same broker or another broker. The listing of the property can start at a later date than the date of signature of the listing contract, in order to give the seller time to prepare the property for demonstration or sale. A listing contract (or reference contract) is a contract between a real estate agent and a property owner that gives the broker the power to act as the owner`s broker when selling the property.  The broker`s commission for a real estate sale is usually paid directly by the commission at closing The commission is usually a percentage of the sale price of the property of 2 or 3% up to about 10%, but usually in the range of about 3 to 7% for houses. The commission can also be a flat fee or a combination of flat fee and percentage, based on the rate you have negotiated. Commission rates and fees are negotiable and unregulated. The average days until the sale in your market, advertising, labor cost, duration and competition can influence the rate accepted by the real estate agent before entering into a listing agreement. .