A seller hired broker N under the terms of an open listing. While that listing was still in effect, the seller without informing broker N, hired broker K under an exclusive right-to-sell listing for the same property. If broker N produces a buyer for the property whose offer the seller accepts, then the seller must pay a:

Question

Business

Gabriela Bell

13 July, 15:01

A seller hired broker N under the terms of an open listing. While that listing was still in effect, the seller without informing broker N, hired broker K under an exclusive right-to-sell listing for the same property. If broker N produces a buyer for the property whose offer the seller accepts, then the seller must pay a:

+5

Answers (1)

Know the Answer?

Raul Garner · Answer 1

commission to both brokers N and K.

Explanation:

Broker N is entitled to a sales commission because he/she sold the property. But broker K is also entitled to a commission because an exclusive right-to-sell agreement allows him/her to collect a commission no matter who sells the property. The only exception to the agreement would be if the seller himself/herself sold the property, but that is not the case here.