Question

Broker Katie obtains an *exclusive agency* listing with seller Steve. Katie creates marketing materials and runs open houses for Steve’s home. Then, Steve finds a buyer on his own and sells the house without Katie’s help. What fee is Katie owed?

Accepted Answer

Katie has not earned a fee.

Answer

Katie is entitled to the full commission.

Answer

Steve doesn’t owe Katie the full commission but must compensate her for the time and resources spent on marketing and open houses.

Answer

Steve must compensate Katie for the marketing materials but not for the time she spent running open houses.

Question 24 - Brokerage Responsibility and Agency Management Practice Test for the Real Estate License Exam