Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What is the key feature of an Exclusive Right to Sell listing?

The broker receives commission only if they sell the property
The broker has the sole right to market the property
Anyone can sell the property
The principal retains the right to sell the property without commission

The correct answer is: The broker has the sole right to market the property

An Exclusive Right to Sell listing is a type of real estate agreement in which the broker is given the sole right to market and sell the property. This means that the principal (owner) cannot sell the property themselves without owing commission to the broker. Option A is incorrect because in a net listing agreement, the broker only receives commission if they sell the property above a certain price. Option C is incorrect because in an Open Listing agreement, the principal can hire multiple brokers to sell the property and only pay commission to the one who successfully sells it. Option D is incorrect because in an Exclusive Agency listing, the principal can sell the property themselves without owing commission to the broker, but cannot hire another broker to sell it.