Virginia State Real Estate Exam Practice Question
A seller desires to cancel an exclusive listing before expiration. The seller
Correct Answer: A
Rationale: A: Cancelling the exclusive listing is permissible, but the seller may still owe a commission if the broker has fulfilled their contractual obligations, such as finding a buyer.
B: Transferring the listing to another broker is not allowed without the original broker's consent, as it violates the exclusive nature of the agreement.
C: While a listing agreement is a bilateral contract, it can be cancelled by the seller under certain conditions, making this option incorrect. The seller retains the right to terminate the contract, albeit with potential financial implications.
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