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AAA gets the selling (buyers) commission and Rogers Realty gets the listing commission

The new listing terminated the holdover period. Therefore AAA cannot claim a listing side commission, Rogers Realty is going to recieve the listing commission. However, since AAA is now representing the buyer, they will be entitled to the buy side commission.

There is a checkbox in the Holdover Clause which would have allowed the Holdover clause to survive re-listing the property. Since this box was not checked, the Holdover period ended when the property was re-listed. The Holdover Period says that a listing broker may be entitled to a commission after the expiration of a listing contract for the period of time specified in the clause if: 1) the broker negotiated with the buyer during the listing period and 2) the broker submitted the name of this buyer in writing to the seller. Although the protection is for a negotiated time after the listing expires; it can terminate early if the property is re-listed by another agent and the "Will Not" box is checked, meaning the old listing agent "shall not" be owed a commission if another brokerage firm has earned one. If neither the "Will" or "Will Not" be owed a commission box is checked - the default is "Will Not." See "Holdover Period" in the "When Earned" clause of an Exclusive Right to Sell listing agreement.

What is an exclusive agency listing?

Exclusive Agency Listing: A contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker if the property is sold through the efforts of any real estate broker.

What is a key difference between an exclusive agency listing and an exclusive right to sell listing quizlet?

With exclusive right to sell, the broker has the exclusive right to market the property and receive a commission regardless of who procures the buyer. With exclusive agency, the owner retains the right to find a buyer and sell the property and owe the exclusive broker no commission.

How many agents are there in an exclusive right to sell listing quizlet?

In an exclusive-right-to-sell listing, one broker is appointed as the seller's agent and is given the exclusive right to market the seller's property; the seller must pay the broker a commission if the property is sold during the term of the listing.

What is required in Maryland listing agreements?

The agreement addresses vital details including the listing price, the type of compensation offered to the agent (commonly given as a percentage of the sales price), marketing procedures, and the beginning and expiration dates of the contract.