Question: Question 1 & Explain Answer Please A seller is unhappy with the effort being put forth by the listing broker and wishes to terminate the
Question 1 & Explain Answer Please
A seller is unhappy with the effort being put forth by the listing broker and wishes to terminate the listing and relist the property with a different broker. How shall the second broker advise the seller?
A - Tell the seller to send certified notice to the listing broker terminating their relationship. A listing is a unilateral contract which may be terminated at any time by the principal.
B - Tell the seller to ask the listing broker to agree to terminate the listing. Agency is a bilateral relationship which may be terminated by mutual agreement of the parties.
C - Advise the seller to record a notice of termination at the registrar of deeds, thereby severing all connections with the listing broker and permitting the seller to enter into a new listing agreement.
D - The seller may withdraw the listing from the local MLS and enter into a listing agreement with a new broker at anytime, as a listing is a service contract and may be terminated whenever the service being rendered is unsatisfactory.
Question 2
Which of the following situations automatically terminates an offer to purchase real estate?
A - the impending death of the offeror or offeree
B - acceptance of the offer by the offeree
C - revocation by the offeror after being notified of the offeree's acceptance
D - failure to accept the offer within the time stated therein by the offeree
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