Lesson 12 Quiz – Listing Agreements

An owner promises to pay a commission fee for any broker who produces a ready, willing, and able buyer to purchase his house. However, the broker is not obligated to perform any services on behalf of the owner. What type of agreement has the owner created?

A broker created an unintended agency relationship by way of her conduct towards a buyer. This is known as

The owner must pay the listing broker a commission fee regardless of who is the procuring cause during the listing period. Which type of agreement did the owner sign?

The owner retains the right to sell the property without the broker’s assistance; however, authorizes a single broker to sell the property and earn a commission. The owner agreed to

The owner sets a minimum acceptable amount to be received from the transaction and allows the broker to retain any amounts in excess as the commission. The owner has agreed to

An exclusive listing agreement requires, in writing,

An organization comprised of member brokers who agree to cooperate in the sale of properties listed by other brokers in exchange for a share of the broker’s earned commission is referred to as

When a buyer is amenable to the terms of the transaction and is capable of paying the price, the individual is deemed as

An express agreement authorizes the broker to act on behalf of a client in procuring or selling a parcel of real property. This agreement is referred to as a(n)

A listing agreement may not be terminated due to

The broker’s commission amount is based on

Due diligence refers to verifying the accuracy of statements regarding

Which of the following is information NOT required in an exclusive agency listing agreement?

An exclusive-right-to sell agreement contains a protection period clause that protects the