Agency
Agency Practice Question
In which listing does the first agent get no commission when a second agent brings the buyer?
A
Exclusive right to sellB
Closed listingC
Open listingD
Exclusive agencyExplanation
In an open listing, multiple brokers can compete and only the one who procures the buyer earns the commission. Other brokers receive nothing.
More Agency Questions
A fiduciary relationship exists between:
Which duty requires an agent to keep the principal informed of all material facts?
Dual agency occurs when:
An agent who exceeds the authority granted by the principal:
A broker who represents both the buyer and seller in the same transaction without the knowledge and consent of both parties is practicing:
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