An exclusive agency listing differs from an exclusive right-to-sell listing because:
Why The seller can sell the property themselves without paying commission Is Correct
Answer B: The seller can sell the property themselves without paying commission
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
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- In an exclusive right-to-sell listing, the broker earns a commission if:Agency
- In an exclusive right to sell listing, the listing broker earns a commission if:Contracts
- Which of the following best describes an 'exclusive right to sell' listing in terms of agency?Agency
- Under an 'exclusive agency' listing, when does the broker NOT earn a commission?Contracts
- In California, which type of listing gives only ONE broker the exclusive right to earn a commission, even if the seller finds the buyer?Agency
- An exclusive right-to-sell listing entitles the broker to a commission:Contracts
- Which type of contract listing gives the broker a commission only if the broker personally finds the buyer?Contracts
- Under an exclusive agency listing, the seller retains the right to:Agency
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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