Virginia State Real Estate Exam Practice Question
A seller wants to cancel the listing before expiration. Is this permitted?
Correct Answer: A
Rationale: A allows the seller to cancel the listing, but they may face commission liability if the cancellation violates the terms of the contract. This means they could owe a commission to the agent for work done prior to cancellation.
B is incorrect because while a seller can transfer a listing to another agent, it does not directly address the cancellation of the original listing.
C is also incorrect; while a bilateral agreement is binding, it can be canceled under certain conditions, such as mutual consent or breach of contract, which allows for potential cancellation with consequences.
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