What is a "protection period" in a listing agreement?

A "protection period" in a listing agreement refers to a specified time frame after the expiration of the listing during which the broker is entitled to receive a commission if the property is sold to a buyer who was introduced to the property during the listing period. This provision is important because it protects the efforts of the broker in marketing the property and building relationships with potential buyers. Even after the formal listing contract has ended, the broker can still benefit from the work completed prior to expiration.

This concept ensures that if a buyer who was shown the property during the listing period subsequently decides to purchase it after the listing has expired, the broker is compensated for their role in facilitating that sale. The other options do not accurately capture the essence of a protection period as defined in listing agreements.