Berry, the seller, wants paul, the broker, to change from a single agency relationship to a transactional broker. paul agrees to do this as long as the transition disclosure is made in writing so that all parties understand what is happening. paul needs to transition to a transition broker when? After the listing agreement is signed.
Only when the buyer requests that Paul, the broker, do so.
At any time during a transaction, as long as consent is given in writing.
At the closing.

Suppose that a major city’s main thoroughfare, which is also an interstate highway, will be completely closed to traffic for two years, from january 2014 to december 2015, for reconstruction at a cost of $535 million. if the construction company were to keep the highway open for traffic during construction, the highway reconstruction project would take much longer and be more expensive. suppose that construction would take four years if the highway were kept open, at a total cost of $800 million. the state department of transportation had to make its decision in 2014, one year before the start of construction (so that the first payment was one year away). so the department of transportation had the following choices: (i) close the highway during construction, at an annual cost of $267.5 million per year for two years. (ii) keep the highway open during construction, at an annual cost of $200 million per year for four years. now suppose the interest rate is 80%. calculate the present value of the costs incurred under each plan.