74. An owner has signed an agreement including the statement that 'the agent has a 90-day exclusive and irrevocable right-to-sell.' Under this agreement, which of the following is true?
Answer: C
The licensee is entitled to a commission regardless of who sells the property within the 90-day period.
Under the agreement that grants the agent a 90-day exclusive and irrevocable right-to-sell, the licensee will earn a commission regardless of whether the seller or another party sells the property during that timeframe.
A) The licensee is entitled to a commission unless the seller sells the property herself within the 90-day period.
This option is incorrect because the exclusive and irrevocable nature of the agreement means that the licensee is entitled to a commission even if the seller decides to sell the property herself. The agreement ensures that the agent has the right to commission regardless of who facilitates the sale.
B) The licensee is entitled to a commission unless another brokerage sells the property within the 90-day period.
This statement is also incorrect. The exclusive agreement with the licensee guarantees that they will receive a commission regardless of whether another brokerage is involved in the sale. The exclusivity of the right-to-sell prohibits the seller from circumventing the agent's commission through another brokerage.
C) The licensee is entitled to a commission regardless of who sells the property within the 90-day period.
This option is correct as it aligns with the terms of the exclusive and irrevocable right-to-sell agreement. The licensee's commission is secured regardless of who ultimately sells the property, affirming the agent's entitlement to compensation for their services within the specified period.
D) The contract may unilaterally be revoked by either the owner or the licensee within the 90-day period with no recourse.
This option is incorrect because an irrevocable agreement cannot be unilaterally revoked by either party without consequences. The term "irrevocable" indicates that the agreement remains binding for the entire 90-day duration, preventing either party from terminating it without proper cause.
Conclusion
The correct answer is C, as it accurately reflects the terms of the exclusive and irrevocable right-to-sell agreement, ensuring that the licensee is entitled to a commission regardless of who sells the property. All other options fail to recognize the implications of exclusivity and irrevocability inherent in the agreement, which protects the agent's commission rights during the specified period.