A California seller signs an exclusive agency listing with Broker Tanaka. The listing agreement's safety clause requires the broker to provide the seller with a written list of prospective buyers within 3 days after the listing expires. Broker Tanaka fails to deliver this list. A buyer who attended multiple showings during the listing period purchases the property 30 days after the listing expires through a different broker. Under California law, what is the MOST likely impact on Broker Tanaka's commission claim?
Correct Answer
A) Tanaka has likely waived the safety clause by never delivering the list the agreement required
A safety clause that conditions the claim on delivering a list of prospective buyers means what it says: no list, no protection. Other choices: nothing reduces the claim to half as a penalty; the failure forfeits a right rather than creating damages owed to the seller; and the introduction during the term is what the clause would have covered had the condition been met.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
More Laws Of Agency Fiduciary Duties Questions
Under California law, the agency disclosure requirements apply to which types of property?
Under California law, when must a buyer's agent give the agency disclosure form to the buyer?
A broker who fails to promptly disclose their dual agency status is subject to:
A broker’s fiduciary obligation to protect a seller’s confidential information continues:
A broker has an exclusive agency listing on a property. If the owner sells the property, the broker is entitled to:
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