California Real Estate Practice Exam

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A listing agreement is generally?

Verbal and executed
Express and executory
Implied and executory
Written and finalized

The correct answer is: Express and executory

Express and executory is the correct answer because a listing agreement is a contract between a real estate agent and a seller that specifies the terms of the agent's representation. This type of agreement must be expressed and in writing in order to be legally enforceable. A verbal agreement (option A) would not hold up in court and an implied agreement (option C) would not clearly outline the details of the representation. Written and finalized (option D) is close, but does not include the important aspect of the agreement being express.