In a Single-Party listing, which actions must the broker perform?

In a Single-Party listing, which actions must the broker perform?

• A. Make the listing specific to the seller
• B. Remove the holdover clause
• C. Make the listing specific to the buyer and remove the holdover clause
• D. Advertise the property publicly

Answer: (C)

In a Single-Party listing, the broker is representing one buyer as the client, so the agreement must clearly name that buyer and limit the broker’s authority to working for that specific buyer. Making the listing specific to the buyer ensures there’s no ambiguity about who the broker represents and how the broker’s duties and compensation apply. Removing the holdover clause is important because a holdover provision can extend the broker’s right to a commission beyond the term of the agreement if a property is purchased after the listing expires. In a buyer-representation arrangement, you want to cap the engagement to its term and avoid post-term payment obligations, so eliminating that clause prevents uncertain commission obligations later. Advertising the property publicly isn’t aligned with a single-party, buyer-focused arrangement, since public advertising typically involves marketing the property to multiple potential buyers, which conflicts with representing only one buyer.

In a Single-Party listing, the broker is representing one buyer as the client, so the agreement must clearly name that buyer and limit the broker’s authority to working for that specific buyer. Making the listing specific to the buyer ensures there’s no ambiguity about who the broker represents and how the broker’s duties and compensation apply.

Removing the holdover clause is important because a holdover provision can extend the broker’s right to a commission beyond the term of the agreement if a property is purchased after the listing expires. In a buyer-representation arrangement, you want to cap the engagement to its term and avoid post-term payment obligations, so eliminating that clause prevents uncertain commission obligations later.

Advertising the property publicly isn’t aligned with a single-party, buyer-focused arrangement, since public advertising typically involves marketing the property to multiple potential buyers, which conflicts with representing only one buyer.