Delaware License LawIntermediateDelaware Exam
What is a 'pocket listing' and what concerns does it raise under Delaware license law?
AA listing marketed exclusively through a broker's personal network without MLS exposureCorrect
BSimply a listing where the broker secretly pockets extra commission above the originally agreed-upon rate
CA listing that the broker keeps in their desk without marketing it
DA government-subsidized listing program for affordable housing
Why A listing marketed exclusively through a broker's personal network without MLS exposure Is Correct
Answer A: A listing marketed exclusively through a broker's personal network without MLS exposure
A pocket listing is marketed off-MLS, limiting exposure. While not illegal, it raises concerns about whether the broker is truly acting in the seller's best interest (fiduciary duty of loyalty).
Key Delaware License Law Terms in This Question
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Math Concepts
State-Specific Concepts
DRE RegulationLicense Law
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