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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What is true about a listing agreement?

It is irrevocable once signed
It automatically transfers ownership
It is revocable with potential liability
It guarantees the sale of the property

The correct answer is: It is revocable with potential liability

A listing agreement is a legally binding contract between a homeowner and a real estate agent or broker, granting them the exclusive right to sell the property. It is not automatically transfer ownership, as the seller maintains ownership until the property is sold. It is also not guaranteed to result in a sale, as the market and other factors can impact the success of selling the property. The agreement can be revoked, but the seller may still be liable for certain expenses or fees outlined in the contract. Therefore, option C is the correct answer.