Listing Agreements Quiz Attempt #3

Listing Agreements Quiz Attempt #3

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*Listing Agreements Quiz #4*
Congrats!! You may now proceed to the next Unit!

*Termination of Listing*

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Question 1 of 6

1. Question
Anxious to acquire a particularly desirable listing, a broker tells a seller that if it does not sell within 60 days, he will buy the property himself. Which statement is TRUE?
- Licensees should never buy properties they have listed.
- The plan is legal if the promise to purchase is put into writing in a sales agreement that will accompany the listing.
- This type of inducement is illegal in Georgia.
- The broker must arrange for another licensee to manage the sales transaction between the parties.
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Question 2 of 6

2. Question
_______ is to transfer one’s interest.
- Assigning a contract for the sale of a property by a broker
- Allowing an agent to represent a buyer
- Establishing a role for the agent to act on behalf of a principal only
- Allowing a broker to replace the role of the agents
- All of the above
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Question 3 of 6

3. Question
As the seller complains about the high commission rate, the agent could inform him/her that
- This is the rate that the board of Realtors requires.
- The real estate commission recommends we use this rate.
- This is the market rate in our area.
- My brokerage uses a set rate for real estate commissions.
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Question 4 of 6

4. Question
What should an agent do after a listing has been secured?
- Upload the listing on the MLS
- Find other realtors with clients interested in the property
- Provide the client with a copy of the listing agreement
- Begin to market the property
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Question 5 of 6

5. Question
In an open listing agreement, two firms claimed that they are entitled to the commission of a sale. Which broker should receive the commission?
- the broker who procured the final sale
- the broker who was hired first
- the broker who advertised the property the most
- the broker who listed the property
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Question 6 of 6

6. Question
What does it mean to create a contract for the sale of real estate?
- To allow a buyer to buy property from a seller
- To allow the agent to only act on the behalf of a principal
- To transfer one's interest
- Only establish an agency relationship
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