Maine Real Estate License Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the Maine Real Estate License Exam. Get ready with flashcards and multiple choice questions, each offering hints and explanations. Achieve your real estate career goals.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which type of real estate contract may have a carry-over clause?

Exclusive Agency
Open Listing
Exclusive Right to Sell
Lease Agreement

The correct answer is: Exclusive Right to Sell

The correct answer is Exclusive Right to Sell, and this type of real estate contract may include a carry-over clause because it ensures that the real estate agent retains a right to a commission even after the contract has expired, provided that the property is sold to someone the agent introduced to the seller during the contract period. In this type of arrangement, the seller gives the agent exclusive rights to market the property, meaning that no other agents can list the property during the term of the agreement. If the property sells after the contract ends due to the agent’s efforts, the carry-over clause protects the agent's commission rights. This is particularly beneficial for agents, as it recognizes their role in fostering leads and relationships that may result in a sale, even after their contract has concluded. On the other hand, the other contract types—Exclusive Agency and Open Listing—typically do not include a carry-over clause because they allow for more flexibility in the marketing of the property and generally do not guarantee an agent's commission if the property sells following the end of the agreement. A Lease Agreement focuses on rental arrangements and does not involve selling commissions, thus it does not incorporate a carry-over clause pertaining to sales.