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6 Cards in this Set

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Competitive market analysis
a comparison of properties recently sold, properties currently on the market, and properties that did not sell. the comparisons must be made with properties similar in location, size, age, style, and amenities to the seller's property
multiple listing service
a marketing organization whose broker members make their own exclusive listings available through other brokers and gain access to other brokers' listings as well.
open listing
the seller retains the right to employ any number of brokers as agents/ the brokers can act simultaneously, and the seller is obligated to pay a commission to only that broker who successfully produces a ready, willing, and able buyer.
exclusive agency listing
one broker is authorized to act as the exclusive agent of the principal. however, the seller retains the right to sell the property w/out obligation to the broker.
exclusive-right-to-sell listing
one broker is appointed as the seller's sole agent. the broker is given the exclusive right to market the seller's property.
buyer brokerage (agency) agreement
an employment contract in which the broker is employed as the BUYER'S agent