Which statement is true regarding termination of listings?

The answer indicating that listings can be terminated by mutual agreement is accurate because real estate contracts, including listing agreements, are fundamentally based on the consent of the parties involved. If both the seller and the agent agree to terminate the listing agreement before its natural expiration, they can easily do so through mutual consent. This highlights the principle that contracts, including agency agreements, are inherently flexible in nature as long as there is a consensus between the involved parties.

Moreover, the possibility of mutual termination allows for adjustments in circumstances, such as changes in the seller's strategy or satisfaction with the agent's performance. It emphasizes the collaborative nature of these agreements, as both parties must honor each other’s needs and desires regarding the selling process.

In contrast, options discussing unilateral actions or requirements such as written notices do not capture the cooperative aspect of contract termination, which is essential in agency law. The binding nature of contracts until expiration also underscores the need for proper communication and agreed-upon terms rather than unilateral decisions.