medium · National Real Estate Exam contracts
A seller signs an exclusive-right-to-sell listing for $300,000. The broker brings a cash offer for $300,000 with no contingencies, but the seller decides not to sell.
Which statement is most accurate regarding the broker's commission?
- The broker is not entitled to a commission since no sale occurred.
- The broker must instead sue the buyer for damages for failing to close.
- The broker has earned a commission because a qualifying buyer was produced
- The broker is only entitled to reimbursement for advertising expenses already incurred.
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