California Real Estate Exam 2025 - Collection 5 - Question 143

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California Real Estate Exam 2025
Collection 5
Question 143: A listing:
A. Tends to set the fair market value of the property.
B. Should be taken at a price much higher than fair market value if that price is what the owner insists upon.
C. Usually reflects the highest price an owner believes he can obtain for his property.
D. Is not of much importance in the success of a real estate broker's business as he earns commissions only on what the office actually sells.
Correct answer is C. Usually reflects the highest price an owner believes he can obtain for his property.
A listing price is typically the price the seller believes they can get for their property. While a good agent will advise the seller on a realistic market price, the final listing price is ultimately the seller's decision. They may choose to list higher than market value, hoping to get a better offer. While the agent can't force the seller to list at a specific price, taking an extremely overpriced listing is generally bad practice. It can lead to the property sitting on the market for a long time, making it harder to sell even at a later price reduction. The agent has a duty to advise the client on a realistic price. Listings attract buyers, which can lead to sales of those listings and potentially sales of other properties to buyers who don't purchase the original listing. Listings are the lifeblood of a real estate brokerage.

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