Choose the One Most Appropriate Answer for Each

question 74

Multiple Choice

Choose the one most appropriate answer for each.
-a contract wherein a broker is employed to find a buyer or tenant

• A)abandonment
• B)advance fee listing
• C)advanced cost listing
• D)agent
• E)bargain broker
• F)broker
• G)buyer's broker
• H)discount broker
• I)employment contract
• J)exclusive agency listing
• K)exclusive authority to purchase
• L)exclusive right to sell
• M)flat-fee broker
• N)Multiple listing service (MLS)
• O)net listing
• P)open listing
• Q)procuring cause
• R)ready willing and able buyer
• S)real estate listing
• T)REBAC

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Definitions:

Federal Arbitration Act

A U.S. law that provides for the enforcement of arbitration agreements and allows for the use of arbitration in resolving disputes instead of going to court.

Arbitration Agreement

A contract specifying that disputes will be resolved through arbitration rather than court litigation.

Private Companies

Businesses that are owned by a small number of shareholders or company members, and whose shares are not publicly traded on stock exchanges.

Negotiation

The process of discussing something formally in order to reach an agreement or compromise between parties.