Noah Cook says, 'I want $220,000 net to me, and you may keep anything above that amount.' What type of listing is being proposed?
Correct Answer
D) Net listing
Net listing is correct because the facts match a listing in which the seller sets a net amount to receive and the broker keeps any excess, a practice restricted or prohibited in many places because of conflict concerns. 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
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.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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A listing agreement creates an agency relationship between:
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