Illinois Real Estate Exam Practice Question
On March 1, a licensee took an exclusive right-to-sell listing on a property for 120 days. On April 30, the licensee forgot to renew his real estate license. Which of the following is true regarding the listing?
Correct Answer: D
Rationale: A listing agreement remains valid even if the licensee's individual license expires, as long as the sponsoring broker's license is active. Therefore, option D is accurate; the agreement continues under the broker's authority.
Option A is incorrect because the owner cannot void the listing solely based on the licensee's expired license.
Option B misinterprets the relationship between the license and the listing; the listing does not automatically expire when the licensee's license does.
Option C is misleading since the sellers cannot relist with another company until the current listing expires or is terminated, regardless of the licensee's status.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now