Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Dumps

Exclusive right-to-sell listing = only one broker has the right to sell, and they earn commission regardless of who brings the buyer (broker, owner, or another agent).

Other options:

(A) Exclusive agency listing -- owner may sell without paying broker.

(B) Open listing -- multiple brokers, only procuring cause earns commission.

(D) Net listing -- illegal in Virginia; seller sets net amount, broker keeps excess.

Code of Virginia 54.1-2137 (Brokerage agreements)

Virginia Real Estate Principles & Practices -- Listing Agreements

The Sherman Antitrust Act (1890) is federal legislation designed to maintain fair competition in the marketplace. It prohibits business practices that restrain trade or create monopolies. In real estate, this law directly applies to:

Price fixing (e.g., brokers agreeing on commission rates)

Group boycotts (refusing to do business with certain parties)

Market allocation (dividing territories or clients among competitors)

Tie-in agreements (forcing the purchase of one service with another)

Its primary goal is consumer protection through competition---not housing rights, credit billing, or securities fraud.

Reference (Virginia Real Estate):

Sherman Antitrust Act, 15 U.S.C. 1--7

Virginia Real Estate Board continuing education: Ethics & Antitrust Law compliance

A490-02REGS.pdf (Professional Standards & Conduct sections)

The Fair Housing Act protects against housing discrimination based on:

Race, color, religion, sex, national origin, familial status, and disability.

Familial status = protection for households with children under 18, pregnant women, or legal guardians of children.

Marty's refusal to rent to a family with small children violates familial status protections.

Exemption note (owner-occupied duplex rule): While the Fair Housing Act has a limited exemption for small owner-occupied dwellings ('Mrs. Murphy exemption'), Virginia Fair Housing Law does not allow discrimination based on familial status even in this situation.

Thus, the correct answer is familial status discrimination.

Federal Fair Housing Act, 42 U.S.C. 3601 et seq.

Virginia Fair Housing Law, Code of Virginia Title 36, Chapter 5.1

Mutual assent (also called ''meeting of the minds'') occurs when both parties fully understand and agree to the terms of a contract.

Alexa and Harrison reviewed all terms, had no objections, and agreed to proceed.

This shows mutual assent was realized.

Other options:

(A) Consideration = something of value exchanged.

(B) Reality of consent = agreement free of fraud, duress, or misrepresentation.

(D) Lawful objective = contract must have a legal purpose.

Reference (Virginia Real Estate):

Virginia Code Title 11 -- Contracts

Virginia Real Estate Principles -- Contract elements

A490-02REGS.pdf -- Contracts curriculum

Comprehensive Detailed Explanation:

The NAR Code of Ethics establishes that Realtors must act with:

Integrity -- honesty in all dealings.

Fairness -- treating all parties honestly and impartially.

Competence -- providing services within their level of skill and knowledge.

Since the Code of Ethics covers all these duties, the correct choice is all choices are correct.

NAR Code of Ethics, Preamble & Article 1