Real Estate Practice : Lesson 82

By
Education & Training with The Real Estate Mart of Tennessee, Inc. TN LIC# 290452

                                                            wildlife

When we consider the likenesses inherent in an exclusive-right-to-sell listing and an exclusive-agency listing the seller has the right to allow any agent to show the property.

Is this true or false ?

Take your time. The solution is posted below the wildlife photo.

wildlife

A. False

Under an exclusive-right-to-sell listing and an exclusive-agency listing these types of listing agreements allow the seller to be represented by only one broker and give that exclusive right to the broker.

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Lenn Harley
Real Estate Broker - Virginia & Maryland
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate

This doesn't make any sense.  Of coruse there is only one listing broker, but the question asks about

"showing the property".

Am I missing something?

April 01, 2009 04:47 PM
Rainmaker
1,182,830
David Saks
Memphis, Tennessee
The Real Estate Mart of Tennessee, Inc.

You did miss something, Lenn.

What you missed is what the first false example and consideration represent.

An open listing is applicable to the false example which allows any broker or agent to show a listing, but only the broker or agent that produces a willing, able and ready buyer will be compensated if a sale is realized. It's pretty simple and generalized.

The correct answer singles out the notion of exclusive agency which represents the appointment of one real estate broker as the sole agent for the sale of a property for a designated and agreed upon listing period with the seller.

Read it again. It makes more sense the second time around.

April 01, 2009 11:33 PM
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David Saks

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