Minnesota State Real Estate Practice Test

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Prepare for the Minnesota Real Estate Exam. Enhance your knowledge with flashcards and multiple-choice questions, each complemented by detailed hints and explanations. Ace your licensing exam!

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What must a seller and broker do for a listing agreement to be valid?

Collect signatures from witnesses
Have a notary public present
Both sign the agreement
Include a copy for each party

The correct answer is: Both sign the agreement

For a listing agreement to be valid, it is essential that both the seller and the broker sign the agreement. This signature requirement ensures that both parties express mutual consent to the terms of the agreement, establishing a legally binding contract between them. Without the signatures from both the seller and the broker, the agreement lacks the necessary permission and commitment from all involved parties, which is fundamental in real estate transactions. While having witnesses or a notary public present can add an extra layer of legitimacy to certain agreements, it is not a mandatory requirement for the validity of a listing agreement in this context. Additionally, providing a copy for each party is a good practice for record-keeping and clarity, but it does not directly influence the validity of the agreement itself. The core element that makes the listing agreement valid is the mutual signatures of the seller and broker.