Question

Berry, the seller, wants Paul, the broker, to change from a single agency relationship to a transaction broker. Paul agrees to do this as long as the transition disclosure is made in writing so that all parties understand what is happening. Paul needs to transition to a transaction broker?

Answer 1

Answer:

Before the listing agreement is signed.

Explanation:

A listing agreement is a contract between a property owner and a real estate broker asking the real estate broker to get a buyer for his or her property. The property owner implements the listing agreement so as to empower the real estate broker to act in the capacity of the agent to the owner in the course of trying to sell the property. Generally certain commission is paid to the real estate broker by the property owner.