Q&A Hero

Question

a. abandonment k. exclusive authority to purchase
b. advance fee listing l. exclusive right to sell
c. advanced cost listing m. flat-fee broker
d. agent n. Multiple listing service (MLS)
e. bargain broker o. net listing
f. broker p. open listing
g. buyer's broker q. procuring cause
h. discount broker r. ready willing and able buyer
i. employment contract s. real estate listing
j. exclusive agency listing t. REBAC
1> a listing that gives a broker a nonexclusive right to find a purchaser
2> a listing that gives a broker the right to collect a commission no matter who sells the property during the listing period
3> a listing wherein the owner reserves the right to sell the property himself, but agrees to list with no other broker during the listing period
4> a person empowered to act by and on behalf of the principal
5> a listing for which the commission is the difference between the sales price and the minimum price set by the seller
6> an organization of real estate brokers that exists for the purpose of exchanging listing information
7> the broker who is the primary cause of a transaction
8> a listing where the broker charges for time by the hour and for out-of -pocket expenses to market a property
9> a broker who charges a preset brokerage fee that is collected whether the property sells or not
10> a real estate listing between a property owner and a real estate broker
11> a listing that covers only out-of-pocket costs incurred by the broker
12> an acronym that describes a division of the National Association of REALTORS whose members specialize in buyer agency
13> a broker who represents the buyer in a real estate transaction
14> if a broker acts counter to the principal's best financial interests, the employment is terminated and no commission is paid
15> a broker who deviates from the full-service concept of real estate brokerage and thereby charges lower commissions
16> a full-service broker who charges less than the prevailing commission rates in his community
17> one who, for a fee, acts as an agent for others in negotiating contracts or sales
18> listing utilized by buyer's brokers
19> a buyer who is ready to buy at the seller's price and terms and who has the financial capability to do so
20> a contract wherein a broker is employed to find a buyer or tenant