AgencyIntermediateAlaska Exam

When does a seller's listing agency relationship terminate?

AWhen the buyer submits the first offer
BWhen the property closes escrow and title transfers
CUpon completion of all events specified in the listing agreementCorrect
DWhen the seller verbally instructs the agent to stop showing the home

Why Upon completion of all events specified in the listing agreement Is Correct

Answer C: Upon completion of all events specified in the listing agreement

Agency terminates upon completion of the specific events and purposes outlined in the agency agreement — typically the closing of the transaction, expiration of the agreement's term, mutual agreement to terminate, death or incapacity of the principal, destruction of the property, or other specified conditions.

Exam Tip: Agency

Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.

Key Agency Terms in This Question

Agency

A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.

Listing Agreement

A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.

Escrow

A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.

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