California Real Estate Practice Exam

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In which type of listing could the broker potentially act as both the principal and agent?

Open listing
Exclusive agency listing
Option listing
Exclusive right to sell listing

The correct answer is: Option listing

An option listing allows the broker to act as both the principal and the agent. This type of listing gives the broker the option to purchase the property themselves or to find a third party buyer. This is different from an open listing, where the broker only acts as an agent and does not have the right to purchase the property. Exclusive agency listings also do not allow the broker to act as the principal, as the seller retains the right to sell the property themselves. And while exclusive right to sell listings give the broker the exclusive right to sell the property, they cannot also act as the principal. In an option listing, the broker has the potential to fulfill both roles.