Question

A valid exclusive right to sell listing contract: Select one:

a. Requires the seller to sell the property as per the terms of the listing contract.
b. Requires the seller to pay the broker a commission if the broker performs in accordance with the terms of the listing contract
c. Allows the seller to sell the property without paying a commission.
d. Is the same as an open listing.

Answer 1

A valid exclusive right to sell listing contract obligates the seller to pay a commission to the broker if the broker performs according to the terms of the contract, regardless of who finds the buyer.

Step-by-step explanation:

A valid exclusive right to sell listing contract is an agreement where the seller grants to a real estate broker the exclusive right to sell the property and to receive a commission for the sale of the property, whether the property is sold by the broker, the seller, or anyone else. The correct answer to the student question about what a valid exclusive right to sell listing contract requires is: b. Requires the seller to pay the broker a commission if the broker performs in accordance with the terms of the listing contract. This type of contract obligates the seller to pay the agreed-upon commission to the listing broker if the property is sold within the term of the contract, regardless of who ultimately procures the buyer.