A California exclusive listing agreement expires and includes a 60-day safety clause. The listing broker submitted a written list of prospective buyers to the seller upon expiration. Which of the following buyers would NOT be covered by the safety clause?
Correct Answer
D) A buyer with no earlier contact with the original broker, who finds the property after expiry through a listing posted by a different broker
A safety clause reaches buyers the broker introduced during the term. Someone who first meets the property afterwards, through a different broker's listing, was never introduced, so nothing carries over. Other choices: a buyer named on the submitted list who closes inside the period is the clearest case the clause covers; so is an open-house attendee from the listing period; and going directly to the seller after expiry does not undo an introduction already made.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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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