If an employment agreement for a real estate listing is not "in writing," the broker cannot make the other party pay their fee. This is because of the "Statute of Frauds," a law that applies to real estate listings and contracts that take more than one year to complete or involve the transfer of real estate.
These are questions that the above text answers:
1. What is the consequence if an employment agreement for a real estate listing is not in writing?
2. What is the purpose of the Statute of Frauds in relation to real estate listings and contracts?
3. What types of real estate listings and contracts does the Statute of Frauds apply to?
4. What is the requirement for a real estate listing or contract to be subject to the Statute of Frauds?
5. What is the effect of the Statute of Frauds on a broker's ability to collect their fee?
6. Under what circumstances can a broker make the other party pay their fee for a real estate listing?
7. What is the significance of the transfer of real estate in relation to the Statute of Frauds?
8. How long does a real estate listing or contract need to take to be subject to the Statute of Frauds?
9. What is the purpose of requiring real estate listings and contracts to be in writing?
10. What is the legal basis for the requirement of written agreements in real estate transactions?