By / bintoromover
A Client Terminates A Listing Agreement Before Its Expiration Date. What Happens Now Quizlet
Some contracts have automatic renewal clauses that automatically extend the offer period by a certain amount, for example. B 30 days, as long as there is no sale. Automatic renewal clauses create a contract with no effective expiry date and are not in the best interest of the seller, as the broker is not motivated to sell the property within a reasonable time. Therefore, in many states, extension clauses are illegal and most standardized real estate forms do not have the clauses. Sellers who have put their property up for sale sometimes want to “get out” of the listing agreement for some reason, for example. B to lease the property or sell it to someone “by the owner”, without the participation of their broker or through the services of another broker. .