When a broker signs a listing agreement with a seller, under what classification of agency are they operating?

Understand the Problem

The question is asking for the classification of agency under which a broker operates when they sign a listing agreement with a seller. It involves understanding different types of agency relationships within real estate.

More Information

When a broker signs a listing agreement with a seller, it establishes a single agency relationship, where the broker represents only the seller's interests in the transaction. This relationship requires the broker to act in the best interests of the seller.

Tips

Assuming brokers always represent both buyers and sellers can lead to confusion. It's important to know that single agency means the broker's primary obligation is to the seller.

Sources

• The web page with info on - Example Source - realestateu.com
• Listing Agreements: An Overview #listings #realestatelicensing - youtube.com