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A seller lists property for sale with a broker. In the listing contract, which is legal in Oklahoma, it is stipulated the seller will receive $162,000 'net', will all proceeds above that going to the broker. This type of listing would be a(n):

a) open listing.
b) Exclusive right-to-sell listing.
c) Exclusive brokerage listing.
d) Net listing.

User OchiWlad
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1 Answer

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Final answer:

The listing described in the question is a net listing because it states that the seller will receive a set 'net' amount from the property sale, with the broker earning all proceeds above that amount.

Step-by-step explanation:

The type of listing contract described in the question is a net listing. In a net listing, the seller sets a net amount that they wish to receive from the sale of the property, and any proceeds above that amount would go to the broker as their commission. This is contrasted with other types of listings, such as an open listing (where the seller retains the right to sell the property themselves or through various brokers), an exclusive right-to-sell listing (where the listing broker is the only one with the right to sell the property and earns a commission no matter who finds the buyer), and an exclusive brokerage listing (which is similar to the exclusive right-to-sell, but might allow the seller to find the buyer and avoid paying a commission). Therefore, the correct answer is 'd) Net listing.'

User Gkee
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