America's Real Estate Academy, Inc.

One broker becomes the buyer's agent but the buyer reserves the right to search for properties as well.

one broker is authorized to act as the exclusive agent of the principal. However, the seller retains the right to sell the property without the obligation to pay the broker.

one broker is appointed to the seller's sole agent. The broker is given the exclusive right, or authorization, to market the seller's property. Whether the sellers finds a buyer with or without the broker's assistance, the seller still must pay the broker a commission.

This is making a document legally valid, such as formalizing a contract by signing, or acknowledging and delivering a deed. Execution of a document can refer to just the act of signing; it may refer to complete doing of the document's terms.

This is a contract that has been finished fully. All parties have fulfilled their promises.

refers to the status of a contract which says that something remains to be done by one or more of the parties.

It is created when the principal and agent enter into an agreement which expresses their intent to create the agency. The agreement may be in writing or oral.

an oral contract where the parties state the terms and share their intentions in words.