A broker has listed a sellers home using an exclusive agency listing agreement. The exclusive agreement is for four months. During this time, the broker expends considerable time, effort and money marketing and advertising on behalf of the seller. Ten days before the date the listing is to expire, the seller decides to sell his home to his next door neighbor. The seller now owes the broker:
a. only the listing half of the commission.
b. a full commission.
c. no commission.
d. a commission only if escrow closes.
Answer: c. no commission.
Business
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