What term describes a broker's promise to resell or repurchase property at a future date?

• A. Promise to resell
• B. Option to re-purchase
• C. Resale commitment
• D. Future sale contract

Answer: (A)

This question tests understanding of an arrangement where a broker commits to handle a future resale or buyback of property. The best descriptor for that commitment is a promise to resell. It captures the broker’s pledge to take action on the property at a later date—an obligation the broker assumes to facilitate a future sale or repurchase.

Think of it as the broker’s assurance to return the property to resale in the market or to buy it back later, rather than creating a separate right for a buyer to demand a resale under a formal option. An option to re-purchase describes a different kind of instrument that grants specific rights to one party and typically involves distinct terms like premiums and exercisable dates; here the emphasis is on the broker’s forward-going promise or commitment, which is what “promise to resell” conveys. Other terms like resale commitment or a future sale contract aren’t standard labels for this particular pledge in typical practice, and they don’t directly describe the broker’s personal obligation to resell or repurchase at a future date in the same way.

So, the term that best fits the broker’s stated duty to resell or repurchase property in the future is a promise to resell.