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Chapter 13 ASREB Review Questions and Answers Latest Updated 2024
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Chapter 13 ASREB Review
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Chapter 13 ASREB ReviewListing Contract - answer-employment/compensation agreement
-seller hires broker
-ready, willing and able buyer
What type of agent is a broker in a listing contract? - answerSpecial agent
May a broker/agent accept an offer on behalf of a client? - answerNo
An authorization to sell consists of a mutual agreement between broker and seller and
is considered? - answera contract for personal. services
If a broker presents the seller an offer exactly as listed and the seller refuses to accept
it, what is true? - answerThe broker could sue the seller for commission
Open Listing - answer-many brokers
-commission due only to broker who sells property
-unilateral contract
-seller is FSBO
Exclusive Agency - answer-one broker
-commission due to listing broker if seller doenst sell
-bi-lateral contract
-seller is FSBO
Exclusive Right to Sell - answer-one broker
-commission due to listing broker no matter who sells
-bi-lateral contract
What type of listing did the broker obtain if he is only paid if he is the procuring cause? -
answerOpen
What is it called when any broker can sell a listing and receive a full commission? -
answerOpen
A listing which employs many brokers and also allows the seller to sell without paying a
commission is called? - answerOpen listing
An exclusive agency listing agreement? - answerallows the seller to sell and not pay a
commission
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