C2U6 Listing Presentations and Listing Contracts Flashcards
A valid exclusive listing requires:
a. a lawful purpose.
b. mutual consent.
c. consideration.
d. all of the above.
d. all of the above.
An agent sold a property where the owner had verbally agreed to pay a commission. The agent would be legally entitled to a commission from the owner for the sale if the agent had:
a. relied on the verbal promise.
b. made a written memorandum of the agreement signed by the agent.
c. obtained a valid buyer listing agreement.
d. none of the above.
d. none of the above.
A verbal listing is unenforceable.
Which listing would you be LEAST likely to advertise?
a. Nonresidential property
b. An open listing
c. An exclusive-agency listing
d. An exclusive-right-to-sell listing
b. An open listing
A listing under which the owner can sell the listed property without payment of a commission but the agent is nevertheless an exclusive agent is a(n):
a. open listing.
b. exclusive-right-to-sell listing.
c. exclusive-agency listing.
d. net listing.
c. exclusive-right-to-sell listing.
An agent who did not obtain a purchase offer but who initiated an uninterrupted chain of events that led to a sale would be considered the:
a. agent of record.
b. procuring cause.
c. exclusive agent.
d. cooperating broker.
b. procuring cause
Would be entitled to a commission if there was a valid listing
An exclusive-right-to-sell listing likely includes:
a. an agency relationship disclosure.
b. an attorney fee provision.
c. an arbitration agreement.
d. all of the above.
d. all of the above.
All of the following statements regarding an exclusive-right-to-sell listing are true EXCEPT:
a. escrow does not have to close for an agent to be entitled to a commission.
b. it must have a termination date for the agent to be able to collect commission.
c. the agent must give the owner a copy of the listing when the owner signs.
d. the agent is precluded from working with other agents to sell the property.
d. the agent is precluded from working with other agents to sell the property.
Th type of listing that has the greatest likelihood of resulting in a sale would be a(n):
a. open listing.
b. exclusive-agency listing.
c. exclusive-right-to-sell listing.
d. reduced-fee listing.
c. exclusive-right-to-sell listing.
An owner tells you that Agent Jones told her she could get far more from her home than your CMA indicates. What is your BEST response?
a. “Many unethical agents will promise the moon to get listing and then fail to perform.”
b. “I am willing to take the listing at that price, but if we don’t attract buyers we will reevaluate the price.”
c. “I don’t believe it. No agent who knows the market would set a price that high.”
d. “I think my comparative market analysis covers all recent comparable and Cleary shows the market value. May I please look at the comparative market analysis that Agent Jones prepared for you?”
d. “I think my comparative market analysis covers all recent comparable and Cleary shows the market value. May I please look at the comparative market analysis that Agent Jones prepared for you?”
By taking a listing at a low fee that will result in a less than normal fee for any cooperating brokers, you are benefiting:
a. your office.
b. a selling office.
c. the owner.
d. none of the above.
d. none of the above.
