California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

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Seller A and Broker B agree that Broker B can keep anything he gets above $200,000 as his fee. This agreement is called?

A net listing
A gross listing
A fixed-fee listing
An open listing

The correct answer is: A net listing

This is because a net listing is an agreement in which the broker's fee is based on the difference between the selling price of the property and a predetermined minimum amount that the seller wishes to receive. This means that the broker would receive any amount above the $200,000 minimum as their fee. Option B, a gross listing, is when the broker's fee is a set percentage of the selling price, regardless of the final amount. Option C, a fixed-fee listing, is when the broker charges a flat fee for their services. Option D, an open listing, is when the seller can hire multiple brokers to sell their property and only the successful broker receives the commission. These options do not match the agreement described in the question, making option A the correct answer.