Under Montana law, which of the following is a required element of a valid listing agreement?
Correct Answer
B) A definite expiration date for the agreement
Montana law requires that every listing agreement contain a definite expiration date. This protects sellers from being indefinitely bound to a broker and is a fundamental requirement for a valid listing agreement under Montana real estate regulations.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
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.
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