An affiliate broker secured a listing that did NOT contain a definite expiration date. The affiliated broker's principal broker refused to accept the listing. Was the broker correct, and why or why not?

While the REALTORS Code of Ethics emphasizes professionalism and fair treatment in real estate transactions, it does not specifically mandate the inclusion of a termination date in listings. This makes this choice inaccurate since the issue here pertains more directly to regulatory compliance rather than ethical standards.

This statement is misleading as it suggests that only certain types of listings require a termination date. In fact, all real estate listings, not just exclusive right to sell agreements, must comply with regulations that mandate a definite expiration date.

While a listing may be viewed as a contractual agreement, the absence of a definite expiration date makes it non-compliant with regulatory requirements. Thus, this choice incorrectly implies that the validity of the listing is solely determined by the contract nature of the agreement, ignoring important legal stipulations.