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level: Listing Agreements

Questions and Answers List

level questions: Listing Agreements

Question	Answer
a listing agreement which gives the agent the sole right to sell the property and guarantees that the broker receives a commission if the property is sold, even if the seller brings the buyer themselves	exclusive right to sell listing
an agreement that gives multiple real estate brokers (and the owners themselves) the right to sell the property with the individual considered the procuring cause of the sale of the property getting the commission	Open Listing
a conflict resolution technique that requires a third party in the room to decide the best method of resolving the conflict	Arbitration
a document that creates agency between a broker and a buyer	Buyer Representation Agreement
an agreement in which the seller names an amount they want their property to sell for, and then the broker tries to sell it for more, because they receive the difference (the dollar amount above what the owner wants) as their commission	Net Listing
a listing agreement in which the owner retains the right to sell the property themselves without paying a commission, or the commission will be paid to the named broker if the broker or any other party sells the property	Exclusive Agency Listing
a district where property owners can decide on government financed and approved improvement projects for which they will be taxed	Public Improvement District (PID)
rural districts of Texas with lower tax rates that exist to provide developers a way to finance or be reimbursed for utility improvements they make	Municipal Utility District (MUD)
the other broker or salesperson that shows the listed property to a buyer who subsequently purchases the property	Cooperating Broker
an agent that is contracted by the client to perform a certain act; typically the broker of the agent involved in buying/selling transactions	Special Agent
a contract between a principal and a broker created for the broker to sell or lease a property	Listing Agreement