Selma has decided to sell her house in Northridge and wants to net $900,000 after commissions. She decides on list price of $1,000,000. Selma lists her property with XYZ Realty, ABC Realty, and MNO Realty. In each listing agreement, Selma has agreed to pay a commission of 5% of the sale price when the firm finds a ready, willing and able buyer and a sale is consummated. XYZ Realty company produces an offer $900,000 all cash within 10 days of the listing agreement being signed. ABC Realty produces an offer of $950,000 within 11 days of the listing agreement being signed, with the buyer offering 5% cash down, and applying for 95% financing. MNO Realty produces a full price offer of $1,000,000 , with the buyer's contingency of selling their residence for $900,000 in Chatsworth. What type of listing did Selma sign and which offer will she most likely accept and why ?

Answer rating: 100% (QA)

Selma signed an exclusive righttosell listing agreement with each realty firm In this type of listin... View the full answer