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Unit 10

TermDefinition
Comparative Market Analysis A study intended to assist an owner in establishing a listing price for a property
Exclusive Agency Listing A listing contract under which the owner appoints a broker as their exclusive agent for a designated period of time to sell the property. The owner reserves the right to sell on their own WITHOUT paying any commission.
Exclusive right to sell Listing A listing contract under which the owner appoints a broker as their exclusive agent for a designated period of time. Commission will paid no matter who sells the property.
Multiple listing Service An organization in which brokers share listings with each other
Net Listing ILLEGAL IN NJ A listing based on the net price the seller will receive if the property is sold. Under this type of listing a broker is free to offer the property for sale at the highest price they can to increase commission.
Open Listing A listing contract under which the broker's commission is contingent upon the brokers producing a ready, willing, and able buyer before the property is sold by the owner to another broker.
Created by: MAK89
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