Alberta Real Estate Licensing Exam Practice · Question
According to the Real Estate Act, what is the maximum term for which a brokerage can enter into a listing agreement for residential property?
The Real Estate Act does not explicitly state a maximum term for residential listing agreements. However, they must be for a reasonable and agreed-upon period.
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Question: According to the Real Estate Act, what is the maximum term for which a brokerage can enter into a listing agreement for residential property?
Answer options:
- 6 months
- 1 year
- 2 years ✅ There is no maximum term explicitly stated, but reasonable is implied.
Correct answer: There is no maximum term explicitly stated, but reasonable is implied.
Explanation: The Real Estate Act does not explicitly state a maximum term for residential listing agreements. However, they must be for a reasonable and agreed-upon period.
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