Under an open listing contract, the broker _____.
A) receives a nonexclusive right to sell the property
B) receives a commission even if a third party finds a buyer
C) has the exclusive right to sell the property for a specified period of time, but is not entitled to a commission
D) has exclusive rights to sell the property and is entitled to a commission

Question

Quizplus · Accepted Answer

Under an open listing contract, the broker receives a nonexclusive right to sell the property. This means that the seller and third parties (e.g., other brokers) also are entitled to find a buyer for the property. The broker operating under an open listing is entitled to a commission only if he was the first to find a ready, willing, and able buyer.

Under an Open Listing Contract, the Broker _____