Real Estate Chapter 6 Questions Correctly Answered 2024.

Real Estate Chapter 6 Questions Correctly Answered of the following reasons are valid basis for terminating a listing agreement except A sale of the property. B death of the salesperson. C agreement of the parties D destruction of the premises. - ANSWER B death of the salesperson. a listing agreement is a personal service agreement between a broker and a seller, not between a salesperson and a seller. Page 88 by executing a listing agreement with a seller, a real estate broker becomes A a procuring cause. B obligated to open a special trust account. C the agent of the seller. D responsible for sharing commission. - ANSWER C the agent of the seller. As an agent, the broker is authorized to represent the principal and a listing page 88 the provisions in a listing agreement that give additional authority to the broker and obligates the broker to distribute the listing to other brokers is a A joint listing cause .B multiple listing clause. C net listing clause. D open listing clause. - ANSWER B multiple listing clause. An MLS capital is a marketing organization who brokers members make their own executive listings available through other brokers page 89 last month, broker Wanda took a listing on a property. She now learns that her client has been declared incompetent by the courts. Her listing now is A binding as the broker was acting in good faith. B still valid. C basis for commission if the broker produces a buyer D terminated - ANSWER D terminated A listing agreement may be terminated if either party dies or becomes incapacitated