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Agency and Fiduciary Duties, 17% of the examination

Safety clause

A listing provision entitling the broker to a commission if the property sells after expiry to a buyer the broker introduced.

Also called a protection or extender clause. It applies for a stated period after expiry and normally requires the broker to have registered the prospective buyers' names in writing before the listing ended. It is not an automatic extension of the listing, which would itself be prohibited in an exclusive listing.

See it in a question

One question from Agency and Fiduciary Duties, so the term lands in the context the exam uses it in.

Agency and Fiduciary Duties ยท 17%Disclosure of Agency

A listing agent learns at an open house that an unrepresented buyer will pay well above asking. What does the agent owe each party?

Written to DRE's published topic list. Not a real examination question, since reproducing those is a misdemeanour under B&P Code section 123.

Where this is tested

Laws of Agency and Fiduciary DutiesWho you represent, when that duty begins, and what you owe someone you do not represent. California runs its own disclosure regime and permits dual agency with consent, which is where borrowed national study material fails.17%Practise Agency and Fiduciary Duties34 questions on this area, every option explained.Practice

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