Question

Regarding the broker/seller relationship under the terms of an Exclusive Right-to-Sell listing contract, which of the following statements are true?

The broker may be the seller's agent and a transaction broker for the buyer
The broker can take the listing without being an agent of the seller
The listing must have at least a 60 day holdover period
The listing has to be for at least thirty days

Answer 1

The broker can take the listing without being an agent of the seller

Step-by-step explanation:

The broker may list the property if he/she is either a seller's agent or a transaction broker. Transaction brokers are considered to have a working relationship with the owner, while the seller's agent has an agency relationship with the owner. A transaction party is a neutral agent, he/she doesn't owe loyalty to neither the seller nor the buyer, while a seller's agent is required to advocate for the seller and owe the seller loyalty.

Someone is either a transaction broker, a seller's agent or a buyer's agent, but he/she cannot be two things at a time.