Question

Perry is listing his home with Extra Real Estate Company, a brokerage. He wants the listing as follows: He must receive $250,000 from the sale of the home, anything above that price is the broker's commission. Which type of listing agreement is Perry demanding?

A) Exclusive Agency
B) Open Listing Agreement
C) Exclusive Right to Sell with Automatic Extender
D) Net Listing

Answer 1

Perry is demanding a Net Listing agreement where he will receive $250,000 from the sale of his home, and the broker's commission will be anything above that price.

Step-by-step explanation:

Perry is demanding a Net Listing agreement. In a net listing, the seller specifies the amount they want to receive from the sale, and anything above that amount becomes the broker's commission.

In this case, Perry wants to receive $250,000, and any amount exceeding that will be the broker's commission.