Idaho Real Estate Practice Exam

Which of the following is NOT included in Idaho's Real Estate License Law regarding seller representation agreements?

1. Seller representation

2. Buyer representation

3. Limited disclosed dual agency

4. Property maintenance contingency

The correct answer is: Property maintenance contingency

The correct choice is that property maintenance contingency is not included in Idaho's Real Estate License Law regarding seller representation agreements. In real estate practices, seller representation agreements focus primarily on the relationship between the seller and the real estate agent, detailing duties, compensation, and authority to act on behalf of the seller. Seller representation typically encompasses elements like the agent’s obligations to promote and sell the property effectively, while also ensuring compliance with applicable laws and ethical standards. Buyer representation and limited disclosed dual agency are relevant terms in real estate that outline the different types of agency relationships and responsibilities, applicable to buyers and situations where an agent represents both the buyer and seller. However, a property maintenance contingency pertains more to contract negotiations and terms specific to the sale of a property rather than the framework of the representation agreements governed by Idaho's Real Estate License Law. This contingency deals with the responsibilities of the seller to maintain the property in good condition while it is on the market, which falls outside the scope of what seller representation agreements address.