Aceable Agent – Finance Practice Test

This question is about listing agreements and when a broker earns a commission. The exclusive right to sell gives the broker the sole right to market the property and guarantees that the broker will be paid a commission if the property sells during the listing term, regardless of who brings the buyer. That means even if the seller finds a buyer themselves, the broker still earns the commission because the broker holds the exclusive right to sell during the period. This is the strongest form for the broker because it protects their efforts and guarantees payment. Other arrangements don’t guarantee the broker’s commission: an exclusive agency allows the seller to find a buyer without owing the broker a commission; an open listing is non-exclusive and typically only the broker who actually procures the buyer earns a commission; a net listing centers on a set net to the seller and is often restricted or illegal in many markets.