Under what condition would a listing agreement not terminate?

A listing agreement is a contract between a property owner (the principal) and a real estate broker. Typically, several events could affect the status of the agreement, but the death of the salesperson does not cause the listing agreement to terminate.

When the broker dies, the agreement may be affected since the broker holds the legal relationship with the principal. The listing agreement is usually tied to the broker's business, and their death might terminate the agreement unless it is transferred to another broker. Similarly, the principal’s death can lead to termination because the agreement is based on that person's wishes and authority. The bankruptcy of the seller also typically leads to a termination of the agreement since the seller’s ability to convey property is compromised.

However, the death of the salesperson, who is often an agent under the broker, does not terminate the listing agreement itself. The broker can assign other agents to work on the listing, and the contractual obligations between the broker and the principal remain intact. Thus, the agreement continues as the legal relationship stands between the broker and the property owner, regardless of the salesperson's status.