Indiana License Law
Under Indiana license law, which of the following best describes 'net listing'?
AA listing where the broker's fee is a percentage of the gross sale price
BA listing where the seller receives a fixed net amount and the broker keeps everything above it✓ Correct
CA listing with a guaranteed minimum sale price
DA listing where the MLS determines the commission
Explanation
A net listing is one where the broker's compensation is the amount above a fixed net price to the seller. Net listings are legal in Indiana but are considered risky and ethically problematic because they can create a conflict of interest between broker and client.
Related Indiana Indiana License Law Questions
- Indiana license law prohibits a licensee from accepting a listing from a seller who has fraudulently obtained the property because:
- An Indiana broker's license is automatically suspended when the broker is found guilty of:
- An Indiana licensee who completes a sale of their own property (as seller) for more than the market value to an unsophisticated buyer may be violating:
- In Indiana, a real estate salesperson may receive compensation only from:
- Which of the following is exempt from Indiana real estate licensing requirements?
- An unlicensed assistant in Indiana may legally perform which of the following tasks?
- The Indiana Real Estate Commission can take which disciplinary action against a licensee?
- A licensee convicted of a felony must notify the Indiana Real Estate Commission within how many days?
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