Delaware License Law
Net listings in Delaware are:
ACommonly used and encouraged
BDiscouraged or discouraged because they create a conflict of interest between agent and client✓ Correct
CRequired for commercial transactions
DUsed only for bank-owned properties
Explanation
Net listings, where the broker keeps everything above a specified net price, create a serious conflict of interest and are discouraged or strongly discouraged in most states including Delaware due to the inherent risk of taking advantage of sellers.
Related Delaware Delaware License Law Questions
- What is the primary difference between a 'real estate broker' and a 'real estate salesperson' under Delaware law?
- Under Delaware law, which of the following is a permissible activity for a real estate licensee without a listing?
- In Delaware, which of the following activities is considered 'practicing real estate' without a license?
- Which of the following activities would require a Delaware real estate license?
- Under Delaware law, what is the maximum fine the Real Estate Commission may impose on a licensee for a single violation?
- A Delaware licensee who wishes to practice under a team name must ensure the team name:
- When a Delaware licensee changes their name due to marriage or divorce, they must:
- What is the 'inactive' license status in Delaware real estate?
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