What type of agency agreement allows a property owner to engage multiple agents to sell their property?
Correct Answer
B) Open listing agreement
An open listing agreement permits the principal to engage multiple agents simultaneously, with commission typically paid only to the agent who successfully sells the property. This provides maximum flexibility for the vendor but may result in less dedicated marketing effort from agents.
Why This Is the Correct Answer
An open listing lets the owner appoint several agents at once, with commission usually paid only to the agent who effects the sale.
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