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 seller's net sheet is best described as:
Answer: An estimate of the seller's proceeds after paying off mortgages, closing costs, and commissions
A seller's net sheet is a financial estimate that shows the seller's anticipated proceeds from the sale after deducting the mortgage payoff, closing costs, and real estate commissions.
Which listing agreement type gives the listing broker the exclusive right to a commission regardless of who procures the buyer?
Answer: Exclusive right to sell listing
An exclusive right to sell listing entitles the broker to a commission if the property sells during the listing period, regardless of who finds the buyer—including the seller themselves.
A listing agent notices that the seller's home has unpermitted additions. The most appropriate action is to:
Answer: Advise the seller to disclose the unpermitted work and consult with a real estate attorney
Unpermitted additions are typically material facts that must be disclosed; the listing agent should advise the seller to disclose and seek legal guidance on remediation options.
What does 'days on market' (DOM) measure in the context of a listing?
Answer: The number of days a listing has been active on the MLS before going under contract
Days on market (DOM) counts the number of days a property has been actively listed on the MLS before receiving an accepted offer, and is commonly used to gauge market demand.
When a seller cancels a listing agreement before its expiration date without legal justification, the listing broker may be entitled to:
Answer: Reimbursement for marketing expenses and potentially the agreed commission
If a seller breaches a listing agreement by canceling without legal cause, the broker may be entitled to recover marketing expenses and, depending on the agreement, the full commission.
After an accepted offer, the listing agent's role in managing the transaction to closing primarily includes:
Answer: Monitoring contingency deadlines, facilitating communication, and ensuring all parties meet their obligations
After contract execution, the listing agent oversees contingency timelines, coordinates communication between parties, and ensures that all contract obligations are fulfilled on schedule.