May Listing Agreements Be Terminated Without Penalty For Home Invasion In Oakland
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Final answer: A listing agreement can be terminated by expiration, mutual agreement, or once the property sells and closes. It cannot be terminated by a buyer's request because the buyer is not a party to the listing agreement between the seller and the agent. The correct answer is option D).
California case law suggests that where the listing agreement has a fixed term, it may not be unilaterally terminated by the agent (though the client may unilaterally terminate). The agent may "renounce" the agency, but if the client is damaged by the renunciation, the client may sue for damages.
Final answer: A listing agreement is most likely to terminate due to expiration in a situation where the contract specifies a fixed term without provisions for early cancellation or premature termination by either party.
Why can you terminate a listing agreement? Poor communication: You may cancel a listing agreement due to an agent's poor performance. Bad marketing: Real estate is competitive, even in a seller's market. Unethical behavior: Agents have a fiduciary duty to serve a home seller honestly and ethically.
The Court held that under the law of agency, the seller's death terminated the relationship and the listing contract between the seller and the real estate agent.
- A listing contract is automatically terminated if an impossibility of performance occurs. - Specific performance is a remedy if one of the parties to a listing contract unilaterally terminates the agreement. - Death, incompetence, or bankruptcy of either principal or agent terminates a listing contract.
In general, valid reasons for terminating a listing agreement include: A) Mutual agreement between the seller and agent, B) Completion of the sale, and C) Expiration of the agreed-upon time period, as these reasons reflect the successful conclusion or mutual termination of the contract.
