Humber/Ontario Real Estate Course 3 Exam Practice

In a seller representation agreement, what does the 'listing period' signify?

1. Time between agreement commencement and holdover provision end

2. Duration of the real estate market listing

3. Contract period for property advertisements

4. Window for exclusive rights to sell

5. Duration till the next open house event

6. The time until property sale date

The correct answer is: Time between agreement commencement and holdover provision end

The listing period in a seller representation agreement signifies the time frame during which the seller's property will be actively marketed by the real estate agent. It typically begins at the commencement of the agreement and encompasses the duration until the holdover provision ends. This period is crucial as it defines how long the agent has the exclusive right to represent the seller and market the property. Understanding this timeframe is fundamental as it impacts not only the seller's expectations regarding how long their property will be listed but also the obligations and rights of both parties within that timeframe. The holdover provision protects the agent's right to commission should the property sell shortly after the agreement expires, highlighting the significance of this defined listing period.