Under TRELA, a valid listing agreement must include all of the following EXCEPT:
Correct Answer
B) The seller's minimum acceptable sale price
A valid listing agreement does not require the seller's minimum acceptable sale price. The listing price and commission are included, but the seller's minimum price is confidential negotiation information, not a required element.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
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