Barney Fletcher Final
Exam 2025/2026 | All Questions
with 100% Correct Verified
Answers | Graded A+
Agency and Listing Relationships
1. A seller wants to list the property with a broker but wants to avoid paying any
commission should the seller be fortunate enough to sell the property himself.
Which of the following should the seller avoid signing?
A. an exclusive agency listing
B. an exclusive right to sell listing
C. an open listing
D. all listings
Correct Answer: B. an exclusive right to sell listing
Rationale: Under an exclusive right to sell listing, the broker earns a commission
regardless of who finds the buyer—even if the seller finds the buyer independently. This
contrasts with an exclusive agency listing, where the seller retains the right to sell
without paying commission. The exclusive right to sell provides the broker maximum
protection but gives the seller the least flexibility .
,2. Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, Bob
knew he had to sell due to poor health. What should Bob tell potential buyers?
A. tell them of the illness only if they ask, but not the need to sell
B. tell them of the need to sell to insure a quick sale
C. do not tell them even though it appears that Smith's death is imminent
D. in order to sell quickly, tell them that the seller is ill because death would cancel the
listing
Correct Answer: C. do not tell them even though it appears that Smith's death is
imminent
Rationale: A broker owes confidentiality to the seller client. Personal information about
the seller's motivation or health status is confidential and should not be disclosed to
potential buyers, even if it might facilitate a quicker sale. The broker's duty of
confidentiality protects the seller's private information .
3. In a cooperative sale, where the listing broker and the selling broker represent
the seller, the selling broker has which of the following relationships?
A. agent of the listing broker
B. sub agent of the listing broker
C. agent of the seller
D. sub agent of the buyer
Correct Answer: A. agent of the listing broker
Rationale: In a cooperative sale where both brokers represent the seller, the selling
broker (cooperating broker) acts as an agent of the listing broker, not directly as an
,agent of the seller. The listing broker is the seller's agent, and the selling broker
becomes a subagent of the listing broker. This creates a chain of agency where the seller
is represented through the listing broker .
4. A broker had an exclusive right to sell agency listing. In order to collect the
commission, he must:
A. prove he was the procuring agent
B. prove he was licensed at the time of the sale
C. prove he had a ready, willing, and able buyer that met the seller's terms
D. all of the above
Correct Answer: B. prove he was licensed at the time of the sale
Rationale: Under an exclusive right to sell listing, the broker is entitled to a commission
regardless of who procures the buyer, provided the broker's license was valid at the time
of the sale. The broker need not prove they were the procuring cause (unlike open
listings) because the exclusive right to sell guarantees commission to the listing broker.
However, the broker must have been properly licensed when the transaction occurred .
5. Joan has a listing with broker Bob. A week into the listing, Joan gets a call from
broker Jill stating that the listing is now with her. Can this happen?
A. it's ok as long as it was assignable in the original contract
B. it's ok as long as the brokers have a written contract between them to transfer
C. never due to the statute of frauds
D. it cannot be assigned because a listing contract is a personal services contract
, Correct Answer: D. it cannot be assigned because a listing contract is a personal
services contract
Rationale: A listing agreement is a personal services contract based on the specific
broker's skills, reputation, and ability to perform. Like other personal services contracts,
listing agreements generally cannot be assigned to another broker without the seller's
consent. The seller chose that specific broker based on their qualifications, and that
personal relationship cannot be transferred unilaterally .
6. What type of transaction exists when there is a written contract for a broker to
receive pay from both or either party and performs only ministerial acts for one or
both parties?
A. double agency
B. transaction brokerage
C. sub agency
D. single agency
Correct Answer: B. transaction brokerage
Rationale: Transaction brokerage is a relationship where the broker provides limited
representation to both parties by performing ministerial acts without advocating for
either party. The broker facilitates the transaction neutrally, helping with paperwork and
administrative tasks while owing limited duties to both parties. This differs from dual
agency, where the broker represents both parties as clients .
7. Smith has an exclusive listing with broker Jones for $220,000. Jones finds a
buyer who wants representation and Jones represents both Smith and the buyer,
Exam 2025/2026 | All Questions
with 100% Correct Verified
Answers | Graded A+
Agency and Listing Relationships
1. A seller wants to list the property with a broker but wants to avoid paying any
commission should the seller be fortunate enough to sell the property himself.
Which of the following should the seller avoid signing?
A. an exclusive agency listing
B. an exclusive right to sell listing
C. an open listing
D. all listings
Correct Answer: B. an exclusive right to sell listing
Rationale: Under an exclusive right to sell listing, the broker earns a commission
regardless of who finds the buyer—even if the seller finds the buyer independently. This
contrasts with an exclusive agency listing, where the seller retains the right to sell
without paying commission. The exclusive right to sell provides the broker maximum
protection but gives the seller the least flexibility .
,2. Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, Bob
knew he had to sell due to poor health. What should Bob tell potential buyers?
A. tell them of the illness only if they ask, but not the need to sell
B. tell them of the need to sell to insure a quick sale
C. do not tell them even though it appears that Smith's death is imminent
D. in order to sell quickly, tell them that the seller is ill because death would cancel the
listing
Correct Answer: C. do not tell them even though it appears that Smith's death is
imminent
Rationale: A broker owes confidentiality to the seller client. Personal information about
the seller's motivation or health status is confidential and should not be disclosed to
potential buyers, even if it might facilitate a quicker sale. The broker's duty of
confidentiality protects the seller's private information .
3. In a cooperative sale, where the listing broker and the selling broker represent
the seller, the selling broker has which of the following relationships?
A. agent of the listing broker
B. sub agent of the listing broker
C. agent of the seller
D. sub agent of the buyer
Correct Answer: A. agent of the listing broker
Rationale: In a cooperative sale where both brokers represent the seller, the selling
broker (cooperating broker) acts as an agent of the listing broker, not directly as an
,agent of the seller. The listing broker is the seller's agent, and the selling broker
becomes a subagent of the listing broker. This creates a chain of agency where the seller
is represented through the listing broker .
4. A broker had an exclusive right to sell agency listing. In order to collect the
commission, he must:
A. prove he was the procuring agent
B. prove he was licensed at the time of the sale
C. prove he had a ready, willing, and able buyer that met the seller's terms
D. all of the above
Correct Answer: B. prove he was licensed at the time of the sale
Rationale: Under an exclusive right to sell listing, the broker is entitled to a commission
regardless of who procures the buyer, provided the broker's license was valid at the time
of the sale. The broker need not prove they were the procuring cause (unlike open
listings) because the exclusive right to sell guarantees commission to the listing broker.
However, the broker must have been properly licensed when the transaction occurred .
5. Joan has a listing with broker Bob. A week into the listing, Joan gets a call from
broker Jill stating that the listing is now with her. Can this happen?
A. it's ok as long as it was assignable in the original contract
B. it's ok as long as the brokers have a written contract between them to transfer
C. never due to the statute of frauds
D. it cannot be assigned because a listing contract is a personal services contract
, Correct Answer: D. it cannot be assigned because a listing contract is a personal
services contract
Rationale: A listing agreement is a personal services contract based on the specific
broker's skills, reputation, and ability to perform. Like other personal services contracts,
listing agreements generally cannot be assigned to another broker without the seller's
consent. The seller chose that specific broker based on their qualifications, and that
personal relationship cannot be transferred unilaterally .
6. What type of transaction exists when there is a written contract for a broker to
receive pay from both or either party and performs only ministerial acts for one or
both parties?
A. double agency
B. transaction brokerage
C. sub agency
D. single agency
Correct Answer: B. transaction brokerage
Rationale: Transaction brokerage is a relationship where the broker provides limited
representation to both parties by performing ministerial acts without advocating for
either party. The broker facilitates the transaction neutrally, helping with paperwork and
administrative tasks while owing limited duties to both parties. This differs from dual
agency, where the broker represents both parties as clients .
7. Smith has an exclusive listing with broker Jones for $220,000. Jones finds a
buyer who wants representation and Jones represents both Smith and the buyer,
