If on June 1, a broker and a seller enter into a listing agreement that includes a termination date of August 1, the circumstances that would allow the listing agreement continues is that on June 20, the seller tells the broker to reduce the asking price.
Listing agreement refers to a contract between a property owner and a real estate broker which allows the broker to represent the seller for finding a buyer for the property. It is an employment contract and not a real estate contract as the broker is hired to represent the seller, however no property is transferred between the two parties. Most listing agreements contain a termination date and if the listing expires before the property is sold the agent will remove the property listing from the MLS. However, if there is a change in the listing price requested by the seller, the listing agreement can continue after the termination date.
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