Question

The contract for a listing agreement should include which of the following items?

Select one:
a. All of these are correct
b. The scope of the broker's authority
c. The listed price of the property
d. The broker's commission

Answer 1

A listing agreement should include the scope of the broker's authority, the listed price of the property, and the broker's commission, as all these items ensure clarity on the roles, responsibilities, and financial aspects involved in the real estate transaction.

Step-by-step explanation:

The question pertains to what should be included in a listing agreement for real estate. A listing agreement typically includes several key elements, such as:

• The scope of the broker's authority, which details what the broker is permitted to do on behalf of the seller, including how they may advertise the property.
• The listed price of the property, which is the asking price agreed upon by the seller and the broker.
• The broker's commission, which is the fee that the broker will earn for their services, usually a percentage of the sale price.

All of these items are essential for a comprehensive and clear agreement between the seller and the broker, ensuring that all parties understand their roles, responsibilities, and the financial aspects of the deal. Therefore, the answer to the question is that the contract for a listing agreement should include all of these items.