Listing Agreements Quiz Attempt #4

Listing Agreements Quiz Attempt #4

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*Termination of Listing*

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Question 1 of 6

1. Question
Which of the following describes the meaning of transferring one’s interest?
- Establishing a role for the agent to act on behalf of a principal only
- Allowing an agent to represent a buyer
- Allowing a broker to replace the role of the agents
- Assigning a contract for the sale of a property by a broker
- All of the above
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Question 2 of 6

2. Question
Which of the following is true regarding a broker who is anxious to acquire a desirable listing; the broker tells the seller that if the property does not sell within 60 days, he/she will buy the property.
- The broker must arrange for another licensee to manage the sales transaction between the parties.
- 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.
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Question 3 of 6

3. Question
What should the agent tell the seller if they ask why the commission rate seems so high?
- This is the market rate in our area.
- The real estate commission recommends we use this rate.
- This is the rate that the board of Realtors requires.
- My brokerage uses a set rate for real estate commissions.
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Question 4 of 6

4. Question
An agent should do what after a listing has been secured?
- Begin to market the property
- 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
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Question 5 of 6

5. Question
Which broker is entitled to the commission after the sale of an open listing?
- 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 can be said when a contract is for the sale of real estate?
- allows for a transfer of one's interest under a contract
- allows the buyer to buy property
- permits broker to assign multiple agents to a contract
- Only an agency relationship is formed
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