Which listing is a violation of Minnesota license law?
Question & Answer
Review the question and all answer choices
Net Listing
Multiple Listing
Multiple Listing is a cooperative service among real estate brokers that complies with Minnesota law and enhances market exposure for properties.
Exclusive Agency
Exclusive Agency listing is a lawful agreement where the seller pays commission only if the broker finds the buyer, while the seller retains the right to sell without commission.
Exclusive Right to Sell
Exclusive Right to Sell is a legal and common listing agreement where the broker earns commission regardless of who finds the buyer during the listing term.
Why is this correct?
CORRECT_ANSWER - Net listings are prohibited in Minnesota because they create a conflict of interest where the agent could benefit by selling below the owner's set price, potentially undermining the owner's best interests.
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