In Arizona, what must a broker prove to be assured of collecting a commission?

Study for the Arizona Real Estate Exam. Boost your knowledge with flashcards and multiple choice questions with explanations. Be exam-ready with our comprehensive review!

To collect a commission in Arizona, a broker must demonstrate the existence of a valid listing contract. This contract outlines the agreement between the broker and the property owner for the broker to sell or lease the property. It includes details such as the commission amount, the duration of the agreement, and specific obligations of both the broker and the property owner.

The listing contract serves as the foundational document that establishes the broker's right to earn a commission upon the successful completion of a sale or lease. It provides legal grounding for the broker's claim to a commission, assuming all other conditions are met, such as successfully securing a buyer or tenant under the terms specified.

While deposit receipts, escrow agents, and purchase contracts are important in real estate transactions, they do not inherently grant a broker the right to collect a commission without the supporting listing agreement that initiates the broker's representation and potential compensation.

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