Agency
An 'exclusive agency' listing in Michigan means:
AThe broker earns a commission regardless of who sells the property
BThe broker earns a commission unless the seller finds a buyer independently✓ Correct
CMultiple brokers may list the same property simultaneously
DThe listing must be entered into the MLS immediately
Explanation
Under an exclusive agency listing, the broker earns a commission if they or another broker finds the buyer, but the seller retains the right to sell the property themselves without paying a commission.
Related Michigan Agency Questions
- In Michigan, a designated agent means:
- An agent who represents a buyer and receives compensation from the seller's proceeds is:
- In Michigan, a dual agent owes which duties to BOTH the buyer and the seller?
- A Michigan designated agency arrangement means:
- The REALTOR Code of Ethics' duty to present a 'true picture' in advertising relates to which principle?
- In Michigan, which document formally establishes the listing broker's right to list and sell the seller's property?
- In Michigan, the 'net listing' arrangement is:
- Michigan law requires that a licensee disclose their agency status to a consumer:
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →