Question

Under the Division Rules, which of the following is NOT correct?

(a) When requested by the client, the agent must give them copies of documents from both sides of the
transaction.
(b) Licensees shall keep their broker informed regarding their transactions.
(c) Net listings shall not be taken by a licensee.
(d) A principal broker cannot keep part of the earnest money unless both parties agree.

Answer 1

Under the Division Rules, it is not correct for a licensee to take net listings.

Step-by-step explanation:

(c) Net listings shall not be taken by a licensee.

Under the Division Rules, it is not correct for a licensee to take net listings. A net listing is a type of real estate listing where the agent's commission is based on the difference between the buying price and the selling price of a property. This type of listing is considered unethical because it creates a conflict of interest for the agent.