Hawaii Real Estate State Practice Exam

In an Exclusive Right To Sell Listing Agreement, the statement about the seller needing to accept any full price offer that meets all the terms and conditions is not true. Under this type of agreement, the seller retains the right to reject offers, even if they meet the specified price and conditions. The agent has the exclusive right to earn a commission by bringing a buyer, but the seller is not obligating themselves to accept every offer that comes in.

This distinction is significant because it protects the seller’s rights and options during the selling process. As long as the listing agreement is in effect, the seller can choose to negotiate terms, counter offers, or decline them based on their circumstances or preferences.

The other statements emphasize key requirements of an Exclusive Right To Sell Listing Agreement that enhance clarity and enforceability. It must be signed by all owners of record and the listing broker to establish legal standing, dated for clarity on the timeline of the agreement, and include a specific expiration date to define the duration of the contractual relationship. These components ensure both parties understand their obligations and the timeframe in which the agreement is valid.