What is the exam-ready answer?
| Roadmap lesson | 91 of 500 |
|---|---|
| Official syllabus topic | Brokerage Representation Agreements |
| Official PSI area | Agency |
| Published area weight | 13% of the 100-question national portion |
| Exam portion | National salesperson portion |
| Source edition | PSI Georgia Candidate Information Bulletin dated July 1, 2026 |
| Last verified | August 2, 2026 |
The Rule
PSI publishes the weight for the complete content area, not a fixed question count for this lesson. Learn the rule well enough to apply it when PSI changes names, numbers, or parties in a new scenario.
Complete lesson
Read each concept as part of one decision system. The exam often gives one accurate statement and three statements that belong to a nearby concept.
Listing agreements
An exclusive-right-to-sell listing generally earns the agreed compensation when the property sells during the term, subject to stated exceptions. Exclusive-agency and open listings allocate procuring-cause and owner-sale rights differently.
Buyer and tenant agreements
The agreement defines the search, brokerage services, duration, compensation, exclusivity, and client duties. It should address potential seller or listing-broker payments without implying a fixed market rate.
Protection and termination
A protection period may preserve a compensation claim for specified prospects after expiration. Termination can end future authority without erasing rights or duties already accrued.
Negotiable compensation
Fees and commission structures are negotiated, not set by law, a real estate association, or the MLS. Written agreements should state who owes what and when.
Decision rule
Georgia-specific distinction
Worked example
Scenario. An exclusive-right-to-sell listing is active when the owner independently finds a buyer and sells, with no owner-sale exclusion.
Reason it through. This listing type generally makes the agreed fee due regardless of who procures the buyer, subject to its actual terms.
Answer. The broker may be entitled to the contractually agreed compensation.
Common exam traps
- Calling commission rates standard
- Confusing exclusive agency with exclusive right to sell
- Assuming agency follows the payment source
- Ignoring post-term protection language
Original practice questions with detailed explanations
These questions were written for instruction and mapped to the current outline. They are not copied from PSI or any live examination. Choose an answer before opening the explanation.
Question 1Which listing most broadly protects compensation regardless of who finds the buyer?
- A. Exclusive right to sell
- B. Open listing
- C. Net listing
- D. Option
Show answer and explanation →
Answer: A. Exclusive right to sell
The exclusive-right-to-sell structure generally triggers compensation upon sale during the term, subject to its terms.
Question 2Who fixes real estate commission rates?
- A. The state
- B. The MLS
- C. The parties through negotiation
- D. HUD
Show answer and explanation →
Answer: C. The parties through negotiation
Brokerage compensation is negotiable and must not be presented as fixed by an industry body.
Question 3Does termination always erase accrued rights?
- A. Yes
- B. No
- C. Only for buyers
- D. Only if no closing occurs
Show answer and explanation →
Answer: B. No
The agreement may preserve compensation, confidentiality, accounting, or other accrued duties after termination.
Mastery tracking
Mark this lesson mastered only when every statement is true.
- State the direct answer and decision rule without notes.
- Explain every core concept in plain English.
- Solve the worked example after changing one important fact.
- Identify the Georgia distinction before reading answer choices.
- Answer all three questions correctly and reject every distractor.
- Repeat the topic in mixed practice on a later day.
Recommended next lesson
Continue with Non-Agency, Customers, Ministerial Acts, and Authority. Continue to roadmap lesson 92 and build on this decision rule.
Return to the Agency hub to see every official branch and the complete lesson sequence for this content area.