Listing Agreement Commercial Form With Multiple Agents In Maryland
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FAQ
The correct statement regarding a listing contract is 'A. It is an employment contract for the professional services of the broker. ' This highlights the broker's role as a professional employed by the property owner to facilitate the sale or rental of the property.
A listing agreement is “a legally binding contract that creates an agency relationship authorizing a broker to serve as the agent for a principal in a real estate transaction.” In other words, a listing agreement is an employment contract between a client and a broker that spells out what the broker is responsible for ...
(n) “Subagent” means a licensed real estate broker, licensed associate real estate broker, or licensed real estate salesperson who: (1) is not affiliated with or acting as the listing real estate broker for a property; (2) is not a buyer's agent; (3) has a brokerage relationship with the seller or lessor; and.
Final answer: A valid open listing must be in writing and signed by the seller. Open listings allow sellers to work with multiple brokers and find buyers themselves without a fixed obligation. Therefore, the only true statement from the options provided is that the listing must be in writing and signed by the seller.
A listing agreement is a contract that allows a real estate broker to perform specific marketing and selling tasks for a property. It does not transfer title to the broker and establishes the broker as an independent contractor. The correct answer to the question is A: It allows a broker to complete a specific task.
A real estate listing agreement – also known as a seller's agent agreement – is a contract between a property owner and a real estate broker. It permits the broker to sell the home on the seller's terms, locating an appropriate buyer. The property owner pays the brokerage a commission for acting as the listing agent.
Final answer: In Maryland, a salesperson may be affiliated with more than one broker under specific circumstances including handling both residential and commercial real estate, procuring a buyer for another broker's listing, and obtaining the required additional license(s).
Dual agency may occur only if both parties consent to it, and sign the Consent for Dual Agency form prescribed by the Maryland Real Estate Commission.
An example to illustrate a subagent would be Sam (seller), who hires Randy (salesperson) as his agent. Dan (salesperson) has an interested buyer, but he is not the buyer's retained agent. Dan, therefore, is a subagent helping the seller's agent.
