In an open-listing contract, an individual broker is entitled to a commission if:
A) anyone, including the seller sells the property
B) anyone, excluding the seller sells the property
C) she procures the buyer of the property
D) she markets the property, but it does not sell

Question

Quizplus · Accepted Answer

In an open-listing contract, the broker is only entitled to a commission if they are the one who procures the buyer for the property. This means that the seller can sell the property themselves or work with other brokers to sell it, but the commission will only be paid to the broker who found the actual buyer. Option A is incorrect because it includes the seller selling the property, which would not entitle the broker to a commission. Option B is incorrect because it excludes the seller from selling the property, which is allowed in an open-listing contract. Option D is also incorrect because the broker must do more than just market the property, they must actually find a buyer for the commission to be earned.

In an Open-Listing Contract, an Individual Broker Is Entitled to a Commission