There Are a Number of Different Types of Listing Contracts

question 20

Multiple Choice

There are a number of different types of listing contracts that can be used when marketing a property. Which of the following types of listings requires the broker to be paid a commission if any other broker, or even the owner, sells the property during the contract period?

• A) Open listing
• B) Single listing
• C) Exclusive agency listing
• D) Exclusive right of sale listing

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Definitions:

Dividends Received

Income received from shares in a company, typically distributed from profits to shareholders as decided by the board of directors.

Short-Term Investment

Assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle.

Readily Marketable

Assets that can be sold quickly and with minimal impact on their price due to their appeal to a wide range of buyers.

Operating Cycle

The average time that it takes to purchase inventory, sell it on account, and then collect cash from customers.