Question 66

No, because the licensee did not produce a ready, willing, and able buyer.

The licensee is not entitled to a commission because their exclusive agency listing requires them to produce a ready, willing, and able buyer for the property. Since the property was sold at a foreclosure sale, the licensee did not facilitate the sale and therefore does not earn a commission.

A) Yes, because the licensee took the listing.

This option is incorrect because merely taking the listing does not guarantee a commission. For an exclusive agency listing, the licensee must actively bring a buyer to the transaction, which did not occur in this case.

B) Yes, because the property sold during the listing period.

While the property did sell during the listing period, this does not entitle the licensee to a commission. The key factor is that the licensee did not procure the buyer, as the sale was a foreclosure, which falls outside of the licensee's efforts.

C) No, because licensees cannot conduct foreclosure sales.

This option is misleading. While it is true that licensees may have limitations regarding foreclosure sales, the primary reason the licensee does not earn a commission in this scenario is that they did not produce a ready, willing, and able buyer.

D) No, because the licensee did not produce a ready, willing, and able buyer.

This statement accurately reflects the circumstances. The licensee's entitlement to a commission hinges upon their ability to secure a buyer. Since the property sold through foreclosure without the involvement of the licensee's efforts, they are not entitled to a commission.

Conclusion

The correct answer is D because the licensee's commission is contingent upon their ability to find a suitable buyer, which did not happen in this situation. Options A, B, and C fail to recognize the necessity for the licensee's direct involvement in the sale, while D clearly illustrates the reason for the lack of commission.