What does it mean broker protected?

A broker protection clause, also referred to as a safety clause or extender clause, is a contingency found in listing agent contracts. This clause says that in certain situations, the seller will pay the listing agent commission fees even if the home sells after their listing has expired.

What does protection mean in real estate?

A safety protection clause in a listing agreement entitles the real estate broker or agent to a commission after the listing expires or is canceled. This applies when the final buyer was brought to the deal by the broker.

In which situation is the broker not entitled to a commission?

If the property does not sell and close within the time period identified in the listing agreement, the listing agent has not established a commission claim.

What does protection period mean on the part of the seller and listing agent?

The protection period in a listing agreement is specifically there to protect the real estate agent. For a certain amount of days after the contract expires, if any of the potential buyers that the seller’s agent brought in actually buy the home, then you will still owe them the commission.

What does protection period mean?

Protection Period means the period beginning on the date of the occurrence of a Change in Control and ending 12 months following the occurrence of a Change in Control.

Which type of listing agreement gives the broker the maximum protection?

None of the above. Which type of listing agreement gives the broker maximum protection? A. An open listing.

Is a broker a party to a contract?

Real estate brokers are not parties to the agreement between buyer and seller; this section documents the contact information for the real estate brokers assisting the buyer and seller as well as cooperating broker compensation information.

What is the protective period?

Protective Period means that period of time during which a displaced or dismissed employee is to be provided protection hereunder and extends from the date on which an employee is displaced or dismissed to the expiration of 6 years therefrom, provided, however, that the protective period for any particular employee …