A broker has an exclusive-right-to-sell listing on a building. The owner is out of town when the broker gets an offer from a buyer to purchase the building providing the seller agrees to take a purchase money mortgage. The buyer must have a commitment from the seller before the seller is scheduled to return to the city. Under these circumstances the
A) broker may enter into a binding agreement on behalf of the seller.
B) broker may collect a commission even if the transaction falls through because of the seller's absence from the city.
C) the buyer is obligated to keep the offer open until the seller returns.
D) the broker must obtain the signature of the seller to effect a contract.
Answer: D) the broker must obtain the signature of the seller to effect a contract.
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