Question

a written listing agreement must include a(n):

release of liability
earnest money deposit
advance fee
fixed expiration date

Explanation:

Identify the legal requirements for a written listing agreement

Under Alabama license law (and general real estate law), a written listing agreement is a bilateral contract that must contain specific essential elements to be valid and enforceable. One of the primary statutory requirements is that it must have a definite, fixed expiration date. Automatic renewal clauses are generally prohibited.

Evaluate the given options

• Release of liability: Not a standard or legally required component of a listing agreement.
• Earnest money deposit: This is associated with a purchase agreement (offer to purchase), not a listing agreement between a seller and a broker.
• Advance fee: Not required; many listing agreements do not involve any upfront or advance fees.
• Fixed expiration date: Legally mandated to prevent indefinite listings and protect the consumer.

Answer:

• (A) Release of liability
• (B) Earnest money deposit
• (C) Advance fee
• (D) Fixed expiration date (Correct answer)