Final answer:
The offer received after a listing contract termination is not valid because there is no current listing agreement in place. Additionally, without acceptance of the offer by the seller or the broker acting on the seller's behalf, a contract cannot be formed.
Step-by-step explanation:
The receipt of an offer by the broker after the termination of a listing contract does not create a valid contract for a number of reasons. Most pertinent to this scenario, there is no current listing agreement in effect; a listing contract is an agreement between a seller and a real estate agent, and when it's terminated, the broker no longer has the authority to sell the property on behalf of the seller. Therefore, any offers received post-termination cannot be legally accepted or considered under the terms of the previously terminated contract.
Moreover, a valid contract in real estate also requires acceptance of the offer, and in this case, because the contract has been terminated, the broker has no authority to accept an offer on the seller's behalf. Other elements, such as consideration (which refers to something of value being exchanged in the contract) or the presence of earnest money, which can sometimes act as a sign of the buyer's good faith, are also important, but in this context, the lack of a current listing agreement is the crucial factor.