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Listing Agreement

Principles 1 Chapter 12
Horizontales
A listing contract under which the broker's commission is contingent on the broker's producing a ready, willing, and able buyer before the property is sold by the seller or another broker
A listing contract under which an owner appoints a real estate broker on their exclusive agent for a designated period to sell a property, on the owner's stated terms for commission. The owner reserves the right to sell without paying anyone a commission if the owner sells to a prospect who has not been introduced or claimed by the broker
A notice required of most sellers of real property; must state latent structural defects or any other know structural defects
Verticales
A listing contract under which an owner appoints a real estate broker as her exclusive agent for a designated period of time to sell a property on the owner's stated terms and agrees to pay the broker a commission when the property is sold, whether by the broker, the owner, or another broker
An exclusive listing (generally an exclusive right to sell) with the additional authority and obligation on the part of the listing broker to distribute the listing to other brokers in a multiple listing service
A listing based on the net price the seller will receive if the property is sold