What is a carryover clause in a listing agreement?
A. A clause that states the broker will continue efforts to sell the property if it did not sell during the original listing period.
B. A clause that states the broker is still entitled to a commission for a set period of time after the listing expires if the property sold to a buyer the broker brought to the property during the time of listing.
C. A clause that states the terms and conditions of a listing agreement will carry over exactly the same to a new agreement when the original expires.
D. A clause that states the conditions of the listing agreement will carry over to a new broker should the listing broker lose his/her license
Answer: B. A clause that states the broker is still entitled to a commission for a set period of time after the listing expires if the property sold to a buyer the broker brought to the property during the time of listing.
You might also like to view...
The balance in the Bonds Payable account is a credit of $92,000. The balance in the Premium on Bonds Payable account is a credit of $1,990. The bond's carrying amount is $93,990
Indicate whether the statement is true or false
There are several basic questions involved in sampling design. "Should a sample be taken? If so, what process should be followed?" are two such questions. Which of the following questions is also involved in sampling design?
A) What kind of sample should be taken? B) How large should the sample be? C) What can be done to control and adjust for nonresponse errors? D) All of the above are correct.