Check Your Understanding Answers
- How must the listing price be written on the Exclusive Right to Sell Agreement?
In both numeric and written form
- Which specific issues are discussed in the Compensation provision?
- Amount of compensation due
- When compensation is due, both during and after the agreement period
- Compensation being shared with others
- When compensation is NOT due to the broker
- If the sale of the property is prevented by someone other than the seller, when is compensation due to the broker?
It is only due if and when the seller collects damages from a suit or settlement.
- What does a seller acknowledge if the seller chooses to opt out of using a MLS?
Exposure to the property will be limited, which could affect the number of showings and/or offers on the property.
