Ace the Illinois Real Estate Exam 2025 – Unlock Your Property Pro Potential!

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Question: 1 / 400

What type of listing arrangement involves multiple brokerages selling a property?

Exclusive Listing

Net Listing

Open Listing

The correct answer is related to an arrangement that allows multiple brokerages the opportunity to market and sell a property, which indeed corresponds to an open listing. In an open listing, the property owner can engage as many brokers as they wish to sell the property, and the commission typically goes to the broker who brings the buyer. This structure promotes competition among brokers and offers the seller flexibility.

The exclusive listing arrangements, such as the exclusive right to sell, limit the property to a single brokerage, granting them the sole right to earn the commission regardless of who finds the buyer. A net listing, while less commonly used due to legal concerns, focuses on ensuring that the seller receives a predetermined amount after the sale, with the broker keeping any amount over that as commission.

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Exclusive Right to Sell Listing

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