Final answer:
A standard holdover period's duration is negotiable and is determined through an agreement between a seller and their brokerage firm, rather than being a fixed timeframe.
Step-by-step explanation:
A standard holdover period is a term used in real estate transactions, which refers to the time after a listing agreement between a seller and a brokerage firm has expired, during which the broker is still entitled to a commission if the property sells to a previously introduced buyer. The duration of a standard holdover period is negotiable and not necessarily fixed. It is an agreed-upon term in the listing contract and can vary based on the negotiation between the seller and the brokerage firm. It is important for investors to be aware of the holdover period and any associated fees or restrictions that may apply.