Agency
A Vermont exclusive agency listing differs from an exclusive right to sell in that:
AThe seller may not sell to family members
BThe seller retains the right to sell the property themselves without paying a commission✓ Correct
CThe broker earns twice the normal commission
DThe listing is entered in the MLS automatically
Explanation
An exclusive agency listing grants one broker the exclusive right to represent the seller, but the seller retains the right to sell the property themselves without paying a commission. The broker earns a commission only if they or a cooperating broker produces the buyer.
People Also Study
Related Vermont Questions
- An exclusive right to sell listing in Vermont means:Agency
- A Vermont listing agent's commission on a $750,000 commercial property is 4%. After splitting 50/50 with the cooperating broker, the listing agent earns 60% of the listing broker's share. How much does the listing agent earn?Real Estate Math
- Under Vermont law, a real estate listing agreement creates an agency relationship between the broker and seller. What type of listing agreement gives only ONE broker the right to sell and the broker earns a commission even if the seller finds the buyer?Contracts
- When does a Vermont listing agent earn their commission if the listing is an 'exclusive right to sell' agreement?Agency
- A Vermont broker earns a 6% commission on a sale. If the listing broker and selling broker split the commission 50/50, and each broker keeps 40% with 60% going to the salesperson, how much does the selling salesperson earn on a $500,000 sale?Real Estate Math
- In Vermont, a property owner who grants a right-of-way to a neighbor but retains the right to revoke it at any time has granted a:Property Ownership
- A Vermont listing agent charges a 6% commission on a sale of $310,000. If the broker splits the commission 50/50 with the cooperating broker, and the listing salesperson receives 60% of the listing broker's half, how much does the listing salesperson earn?Real Estate Math
- A Vermont listing agreement provides for a 6% commission. The property sells for $295,000. The cooperating broker receives 50% of the commission. How much does the cooperating broker receive?Real Estate Math
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Math Concepts
Study This Topic
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →