National Real Estate Practice Exam

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Prepare for the National Real Estate Exam with flashcards and multiple-choice questions featuring hints and answers. Master key topics to ensure your success!

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In an Exclusive Right to Sell listing, who is authorized to sell the property?

Any broker chosen by the owner
Only one designated broker
Any real estate agent with a valid license
Multiple brokers at once

The correct answer is: Only one designated broker

In an Exclusive Right to Sell listing, the property owner grants a specific broker exclusive authorization to sell their property. This means that only the designated broker has the right to market the property and represent the seller in the transaction. The owner cannot work with multiple brokers, nor can they independently sell the property without involving the designated broker. This arrangement is advantageous for the broker as they are assured of a commission, regardless of who ultimately brings in the buyer, as long as they comply with the terms of the listing agreement. The other options do not accurately reflect the nature of an Exclusive Right to Sell agreement. While any broker chosen might suggest a more open approach, the essence of this type of listing is the exclusivity provided to one broker. This setup ensures that the broker has a strong incentive to effectively market the property.