Idaho Real Estate Practice Exam

What information is NOT required in a listing agreement with a seller in Idaho?

1. The prescribed signatures

2. The property address

3. The selling price

4. None of the above

The correct answer is: None of the above

In Idaho, while preparing a listing agreement, there are specific pieces of information that must be included to ensure the contract is valid and enforceable. Among these, the prescribed signatures, property address, and selling price are all essential components of a comprehensive listing agreement. The prescribed signatures of the seller and the real estate agent are critical because they indicate mutual consent and allow for the enforcement of the terms outlined in the agreement. The property address is necessary to clearly identify the specific property that is being listed for sale, which is vital for clarity and contractual obligations. Lastly, including the selling price is important as it establishes the financial terms and sets expectations for potential buyers. Given that all the elements mentioned are indeed required in a listing agreement, stating "none of the above" implies that all listed items are required information confirms their necessity in the context of Idaho real estate law. This reinforces the importance of including comprehensive details in real estate documents to ensure legal compliance and effective communication between parties.