Under Iowa law, a valid listing agreement must include:
Correct Answer
B) A definite expiration date
Under Iowa law, a listing agreement must be in writing and must contain a definite expiration date. This requirement protects sellers from being bound to an agent indefinitely and is a key element for a listing agreement to be enforceable. Iowa Code Chapter 543B governs real estate licensing and related agreement requirements.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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.
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