Under which circumstance is the seller obligated to pay the listing agent a commission in Kentucky?

Study for the Kentucky Reciprocal Salesperson Test. Explore interactive flashcards and questions with detailed explanations. Ace your exam with confidence!

In Kentucky, the seller is obligated to pay the listing agent a commission if any agent secures the buyer. This principle is based on the terms of the listing agreement that often specify a commission is payable when a buyer is procured, regardless of which agent represents that buyer. It emphasizes the agent's role in marketing the property and their entitlement to compensation for their efforts once a buyer is found, irrespective of whether the buyer comes from the listing agent’s own efforts or through another brokerage.

This practice aligns with industry standards, reinforcing the concept of agency and the contractual obligations established within the listing agreement. Therefore, as long as the agent has fulfilled their responsibilities to market the property and a buyer is secured, the seller is typically required to fulfill their financial obligation in terms of commission.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy