Contracts
An exclusive right to sell listing in Nevada means:
AThe broker earns a commission only if they personally find the buyer
BThe broker earns a commission regardless of who sells the property, including the seller✓ Correct
COnly the broker can market the property
DThe seller retains the right to sell without paying a commission
Explanation
In an exclusive right to sell listing — the most common type — the broker earns the commission if the property sells during the listing period, regardless of who procures the buyer, including the seller themselves.
People Also Study
Related Nevada Questions
- Which type of listing agreement requires the seller to pay the broker a commission regardless of who sells the property, even if the seller finds the buyer themselves?Contracts
- What is the difference between an exclusive right to sell listing and an exclusive agency listing in Nevada?Agency
- What is a 'non-exclusive right to sell' listing versus an 'exclusive right to sell' listing in Nevada?Agency
- A Nevada listing agent has an exclusive listing that expires without a sale. The seller re-lists with a new agent 45 days later and sells. Is any commission owed to the first agent?Real Estate Math
- A Nevada property sells for $450,000. The listing agent's brokerage receives 3% and the selling agent's brokerage receives 2.5%. What is the total commission paid?Real Estate Math
- A Nevada property sells for $485,000 with a 3% commission to the listing broker. The listing broker splits the commission 50/50 with the buyer's broker. What does the listing salesperson earn if they receive 60% of their broker's share?Real Estate Math
- A Nevada property sells for $750,000 with a 6% total commission. The listing broker retains 3% and the selling broker receives 3%. If each selling agent gets 60% of their broker's share, how much does the selling agent receive?Real Estate Math
- A Nevada buyer's agent inadvertently learns from the listing agent that the seller is in financial distress and must sell quickly. The buyer's agent should:Agency
Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Math Concepts
Study This Topic
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →