Question 60

Listings are NOT taken when the office policy is to practice only exclusive buyer agency.

An office that practices only exclusive buyer agency does not take listings for properties; instead, it represents only buyers in real estate transactions. This approach fundamentally limits the agency's ability to list properties for sale.

A) subagency

Subagency refers to a situation where one agent works on behalf of another agent's client. This option is incorrect because subagency does not restrict an office from taking listings; it actually allows for the possibility of listing properties while collaborating with other agents.

B) exclusive seller agency

Exclusive seller agency means that an agency represents sellers exclusively. This option is incorrect because an agency that practices exclusive seller agency would indeed take listings, as its primary role is to represent sellers in selling their properties.

C) exclusive buyer agency

Exclusive buyer agency means that an office only represents buyers, which precludes them from taking listings to sell properties. This option is correct as it directly aligns with the question's premise that listings are not taken under this specific policy.

D) disclosed dual agency

Disclosed dual agency occurs when an agent represents both the buyer and seller in a transaction, with full disclosure. This option is incorrect because disclosed dual agency allows for listings to exist, as the agency can still take listings while representing both parties.

Conclusion

The correct answer is exclusive buyer agency, as it explicitly restricts an office from taking listings by focusing solely on representing buyers. All other options, such as subagency, exclusive seller agency, and disclosed dual agency, do not adhere to this limitation and thus do not align with the question's requirement.