Chapter 6: Listing Contracts Summary
Listing agreement (must be in writing to be enforceable) creates an agency relationship authorizing a broker to serve as the agent for a principal in a real estate transaction.
Bilateral employment contracts - promise to pay a commission in exchange for the broker's promise to locate a "ready, willing and able" buyer for the seller or a suitable property for the buyer.
California Listing Agreement
California law requires that the sellers receive a copy of the listing agreement at the time the signatures are obtained. A buyer has no need to ever see this agreement.
Paragraph 3 - Listing Price and Terms - unless the terms are specified, a seller is not required to pay a commission when refusing a full price offer unless the offer is all cash.
Paragraph 4 - Compensation to Broker
Paragraph 7 - Seller Representations - awareness of any legal, financial or physical reasons that would affect the seller's ability to sell the property.
Paragraph 11 - Security and Insurance - the broker is not responsible for loss or damage to the property, even with a lockbox present.
Paragraph 12 - Keysafe/Lockbox - people using the lockbox are not insured against theft, damage, vandalism, etc. attributed to lockbox use.
Paragraph 20 - Entire Contract - anything that is not written into this agreement is not part of the agreement.
Listing Packet Forms
No. | Subject | Date | Views |
---|---|---|---|
Notice | 부동산 용어사전 | 2019.04.15 | 2075 |
Notice | 부동산 용어 (A to Z) | 2019.03.03 | 1321 |
171 | Chapter 3 Summary | 2019.05.05 | 153 |
170 | Real Estate Law 62 | 2019.05.12 | 153 |
169 | Quitclaim Deed | 2019.05.27 | 154 |
168 | Estimated Value - 8885 | 2021.08.31 | 155 |
167 | Secured Property Taxes | 2021.10.17 | 156 |
166 | Real Estate Law 6 | 2019.05.04 | 158 |
165 | 96003 | 2019.05.29 | 158 |
164 | Department of Real Estate - Commissioner | 2019.06.01 | 159 |
163 | 1031 | 2022.01.04 | 159 |
162 | Prohibited Acts | 2023.07.06 | 159 |
161 | Chapter 9 Quiz | 2019.04.15 | 161 |
160 | Chapter 2 Review (3) | 2019.05.04 | 161 |
159 | Real Estate Law 1 | 2019.05.03 | 163 |
158 | Chapter 2 Review (2) | 2019.05.04 | 163 |
157 | Chapter 2 Review (5) | 2019.05.04 | 166 |
156 | Chapter 10 Quiz | 2019.04.16 | 167 |
155 | A promissory note | 2019.05.27 | 167 |
154 | 12555 Euclid Street #31 Garden Grove, CA 92840 | 2017.07.09 | 168 |
153 | 3 | 2017.07.19 | 168 |
152 | Chapter 12 Conclusion | 2019.04.26 | 169 |
151 | Real Estate Law 29 | 2019.05.07 | 170 |
150 | Open-End Mortgage | 2019.06.05 | 171 |
149 | If a contract for sale provides that the owner is selling his home in an "as-is" condition, then | 2019.05.27 | 172 |
148 | Chapter 18 Conclusion | 2019.03.23 | 174 |
147 | (new) Anaheim, CA 92804 | 2017.06.20 | 176 |
146 | Chapter 7 Quiz | 2019.04.14 | 176 |
145 | discriminate | 2019.05.22 | 177 |
144 | Chapter 1 Quiz | 2019.04.11 | 178 |
143 | route | 2021.09.01 | 178 |
142 | Passive fraud | 2019.05.31 | 179 |