Priya Nguyen gives the same listing terms to several brokers and promises to pay only the broker who actually produces the buyer. What type of listing is this?
Correct Answer
A) Open listing
Open listing is correct because the facts match a nonexclusive listing in which multiple brokers may seek the buyer and only the procuring cause earns compensation. That is the best description of the relationship, right, or legal concept tested here.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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A listing agreement creates an agency relationship between:
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