FRECI_11-4 - Lecture Preview Florida Real Estate Commission...

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1 Florida Real Estate Commission Course I Pre-Licensing Course for Sales Associates Session 11 – Lecture 4 Real Estate Contracts Copyright, 2005 2 Lecture Preview What will you learn from this lecture? Introduce five types of contracts used in the real estate business Discuss listing contracts Describe four types of listings Copyright, 2005 3 Vocabulary Terms Exclusive agency listing Exclusive-right-of-sale listing Net listing Open listing Copyright, 2005 4 Contracts Important to Real Estate n Listing contracts o Buyer brokerage contracts p Purchase and sale contracts q Option contracts r Installment Sale Contracts 5 n Listing Contracts Definite expiration date No automatic renewal provision Property identification Listing price and terms Brokerage fee (commission) Owner’s signature Copy to owner within 24 hours May be written, oral, or implied Not subject to the statute of frauds (if less than 1 year) Copyright, 2005 6 Listing Contracts
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FRECI_11-4 - Lecture Preview Florida Real Estate Commission...

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