CLP Seller Counseling & Listing Management Flashcards
6 cards from real CLP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 CLP Seller Counseling & Listing Management flashcards as text
A listing expires without a sale. When contacting the seller about relisting, which is the most important first step?
Answer: Conduct a candid post-mortem review of pricing, condition, and marketing strategy
Before relisting an expired property, the agent should conduct an honest review of what prevented the sale—typically price, condition, or marketing—to avoid repeating the same mistakes.
Which clause in a listing agreement gives the listing broker the right to a commission if the property sells to a buyer the broker introduced, even after the listing expires?
Answer: Safety/protection clause (extender clause)
The safety or protection clause protects the broker's commission for a defined period after listing expiration if the property sells to a buyer the broker procured during the listing term.
A seller wants to accept an offer contingent on the buyers selling their current home. The listing agent should advise the seller that this contingency:
Answer: Creates uncertainty about the closing date and may require a kick-out clause for protection
A home sale contingency introduces timing uncertainty, and the listing agent should advise including a kick-out clause allowing the seller to continue marketing and accept better offers.
During a showing, a listing agent representing only the seller is asked by an unrepresented buyer for advice on how much to offer. The agent should:
Answer: Explain their role as the seller's agent and recommend the buyer seek independent representation
A listing agent representing only the seller must clarify their agency role and recommend unrepresented buyers seek their own representation to avoid inadvertently creating dual agency.
When reviewing multiple offers with a seller, which practice best upholds the listing agent's fiduciary duty?
Answer: Present all offers fairly and objectively with a side-by-side comparison of terms
The fiduciary duty of disclosure requires the listing agent to present all legitimate offers to the seller with an objective comparison so the seller can make a fully informed decision.
A price reduction is needed after 30 days on the market with no offers. The listing agent's most effective approach to communicating this to the seller is to:
Answer: Share updated market data and showing feedback to build a data-based case for adjustment
Using showing feedback and updated market data to objectively demonstrate the need for a price adjustment is more persuasive and professional than subjective assertions.