Question

Seller Wanda told her broker Chad that she wants to clear $75,000.00 when she sells her home. Chad took the listing and sold the home for $150,000. He gave Wanda her $75,000.00 and he kept the other $75,000.00 Which of the following is a true statement? A) Chad should have advised Wanda that she could clear more on the sale of her home. B) Chad’s commission is more than the State Realtors’ Board allows on one sale. C) Chad took an illegal listing. D) Chad had a duty to Wanda to market and sell her home for the highest price?

Answer 1

Answer: Chad took an illegal listing

Explanation:

From the question, we are informed that Seller Wanda told her broker Chad that she wants to clear $75,000.00 when she sells her home and that Chad took the listing and sold the home for $150,000 and gave Wanda her $75,000.00 and he kept the other $75,000.00.

In this scenario, Chad took an illegal listing. Wanda has the right to know the amount that the home was sold. All written offers should have been sent to Wanda for her to review.