Idaho Real Estate Practice Exam

To whom do all listings belong in Idaho's real estate practice?

1. The firm managing the listings

2. The real estate agents involved

3. The broker of record

4. The seller

The correct answer is: The firm managing the listings

In Idaho's real estate practice, all listings belong to the firm managing the listings. This reflects the principle that real estate agents operate under a brokerage. When an agent takes a listing, the actual legal ownership of that listing rests with the brokerage rather than any individual agent or the seller. This framework is crucial because it allows the firm to leverage the resources, marketing capabilities, and collective expertise of the entire brokerage team to effectively market and sell the property. While the agents associated with the brokerage play an essential role in managing and promoting the listings, and although the broker of record supervises the operations, the agent does not individually own the listing. Additionally, while the seller retains ownership of their property, they do not control the listings once they are under a brokerage agreement, further highlighting the brokerage's ownership of the listing. This structure is designed to protect both the clients and the agents by ensuring a professional and organized approach in the real estate transaction process.