BC Real Estate Trading Services Licensing Exam Practice · Question
Which of the following is an example of an 'express contract' in real estate?
An express contract is one where the terms are clearly stated, either orally or in writing. A written listing agreement is a quintessential example of an expres
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Question: Which of the following is an example of an 'express contract' in real estate?
Answer options:
- A handshake agreement to sell a property.
- A seller implicitly agreeing to pay commission by allowing an agent to show their home. ✅ A written listing agreement signed by both the seller and the brokerage.
- An understanding based on the customary practices of the real estate industry.
Correct answer: A written listing agreement signed by both the seller and the brokerage.
Explanation: An express contract is one where the terms are clearly stated, either orally or in writing. A written listing agreement is a quintessential example of an express contract.
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Question explanations
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
- Maria is purchasing a unit in a newly constructed strata building in Squamish. Her real estate licensee, Ken,
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