Maine Real Estate License Practice Exam

For how long may a listing agreement carry over?

1. Indefinite

2. As agreed to by both parties to the listing agreement

3. 1 year

4. 6 months

The correct answer is: 6 months

The most appropriate duration for how long a listing agreement may carry over is typically determined by the mutual agreement of both the property owner and the real estate agent. While specific time frames like 6 months or 1 year are common in practice, the flexibility in listing agreements allows for variation based on the needs and preferences of the parties involved. It's important to note that a listing agreement may not be indefinite because legal contracts need a time frame for engagement, and an endless duration could complicate the relationship and enforcement of the agreement. Therefore, the duration is generally defined and agreed upon in the contract, which means that while the answer cited may reflect a common choice, it is ultimately at the discretion of both parties to determine the duration that best suits their situation. In summary, the correct answer highlights the importance of mutual agreement between the involved parties, allowing for a range of options based on their discussions and agreement, which could lead to terms longer than 6 months or shorter than 1 year.