Owner Dean wanted to sell his duplex in order to purchase a fourplex. He was concerned that he might not net enough from the sale of the duplex to complete the purchase of his next property. Broker Ward offered a net listing. How does and that listing work?
a. The broker would receive only a predetermined discounted commission to help the seller.
b. The broker would offer his services as a gratuitous agent.
c. The broker would receive a commission only after the seller netted the predetermined amount stipulated in the agreement.
d. The broker would be paid up a certain minimum amount and does not risk being paid no commission.
Answer: c. The broker would receive a commission only after the seller netted the predetermined amount stipulated in the agreement.
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