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21 August, 14:40

A home seller signs a listing agreement with a broker and the next week decides not to sell and revokes the listing. Which of the following is true?

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  1. 21 August, 17:29
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    The broker may have a claim for damages

    Explanation:

    A listing agreement is a legal contract between a broker or a real estate company and a homeowner with intentions to sell a property or house. A listing agreement is a legally binding agreement that provides the broker a right to sell the house or property. The broker has every right to claim for damages because in this type of contract, there is usually no provision for a termination of contract and hence the home seller cannot revoke once the agreement is signed or if he does, he still pays the broker all due commission.
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