Iowa License Law
A 'net listing' in Iowa is one where the broker's commission is:
AA fixed percentage of the sale price
BThe amount above a specified net price set by the seller✓ Correct
CPaid only if the property sells at full list price
DSplit equally between buyer and seller
Explanation
A net listing means the seller specifies a minimum net amount they want from the sale, and the broker's compensation is any amount received above that net. Net listings are discouraged or discouraged in many states because they create conflicts of interest; Iowa licensees should use them with extreme caution.
Related Iowa Iowa License Law Questions
- An Iowa real estate licensee who wants to practice in Nebraska must:
- An Iowa associate broker differs from a salesperson in that the associate broker:
- Iowa's real estate license law defines 'real estate' to include all of the following EXCEPT:
- Net listings in Iowa are:
- How many questions appear on the Iowa real estate salesperson licensing exam?
- The Iowa Real Estate Commission has authority to do all of the following EXCEPT:
- Which of the following activities requires a real estate license in Iowa?
- Under Iowa Code Chapter 543B, a licensee who engages in fraud, misrepresentation, or dishonest dealing faces what penalty?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →