A broker protection clause, often referred to as an extender clause, allows a real estate agent to earn a commission after the expiration of the listing contract if the agent introduced the buyer during the contract period.
An extender clause is a provision in a listing contract that automatically extends the terms of the contract upon expiration. This element can have significant implications for both the agent and the principal involved in the contract.
A flat fee broker is a licensed real estate broker who charges a predetermined fixed fee for providing brokerage services instead of a conventional commission percentage based on the property's sales price.
A Guaranteed Sale is a promise by a brokerage firm to buy a listed property if it fails to sell within the agreed-upon listing period. This offering can attract more sellers by providing them a safety net and peace of mind.
A listing agreement, also known as a listing contract, is a legally binding contract between a property owner and a real estate broker or agent that details the terms and conditions under which the broker will market, promote, and sell the property.
