ADMS 3810 Lecture Notes - Lecture 10: Certified Check
27 Apr 2018
School
Department
Course
Professor
ADMS 3810
Lecture 10
Duty of Principal or Client
• Compensate the agent for services rendered (wait till listing
expires and sell privately)
• Reimburse the agent for expenses incurred
• Indemnify the agent for certain losses and liabilities incurred
in the course of the agency
Types of listing
• Open listing
o Owner notify the broker, broker finds a buyer, and
commission paid
• Exclusive Agency
o The only one allowed to sell the property
• Exclusive Right to Sell
o Even if the seller sold privately, a commission will still
be paid
• Net Listing
o Owner requests a net amount, broker gets the
difference of net and sold price
• Multiple Listing Services (MLS)
o MLS is the pooling of listings by a group of sale agents
Closing Problems
find more resources at oneclass.com
find more resources at oneclass.com
