2026 Real Estate Practice Exam & Full Question Bank
The 2024 National Association of Realtors (NAR) settlement and modern 2025/2026 state statutory mandates (California AB 2992, Texas TREC rules, Florida FREC standards) fundamentally reshaped residential real estate. Test your knowledge across 60 rigorous scenario questions with complete 4-option autopsies, takeaways, and statutory citations.
Real Estate 2026 Practice Questions
Practice Set Topic Distribution
How our 60 questions are split across mandatory agreements, MLS restrictions, concessions, and agency duties (our blueprint, not an official one):
Mandatory Written Buyer Agreements & Touring Rules
Statutory mandate for signed written representation agreements prior to touring residential real property, required contract terms, non-open-ended compensation disclosures, broker caps, and unrepresented buyer interactions.
MLS Compensation Prohibition & Off-MLS Negotiations
Strict ban on cooperative broker compensation fields on MLSs, prohibiting MLS syndication of buyer agent fees, off-MLS direct broker-to-broker agreements, listing agreement fee disclosures, and unilateral fee offers.
Seller Concessions, Financing & Closing Credits
Permissible MLS seller concession advertising, Fannie Mae, Freddie Mac, FHA, and VA guidelines on interested party contributions (IPCs), seller credits applied to buyer broker fees, and loan underwriting compliance.
Agency Disclosures, Open Houses, Dual Agency & Antitrust
Open house exemptions and visitor disclosures, dual agency vs designated agency conflict management, Sherman Antitrust Act Section 1 compliance, prohibition on price-fixing, collective boycotts, and broker steering.
Complementary Real Estate Study Resources
Comprehensive Study Guide
Complete post-settlement curriculum covering buyer agreements, MLS rules, and antitrust compliance.
Read Study Guide →2026 Rules Cheat Sheet
High-yield compliance matrices: touring exceptions, seller concession financing caps, and dual agency rules.
View Cheat Sheet →3-Week Study Plan
Structured schedule designed for active licensees and new exam candidates adapting to the new regulatory standard.
Open Study Plan →Frequently Asked Questions: 2026 Real Estate Regulations
When is a written buyer representation agreement required under 2026 real estate rules?
A written buyer agreement is mandatory before touring any home with a prospective buyer (in-person or live virtual walkthrough). The agreement must explicitly state the broker compensation amount/rate, clarify that broker fees are negotiable and not set by law, and forbid the agent from collecting compensation exceeding the agreed amount.
Can cooperative broker compensation still be advertised on the Multiple Listing Service (MLS)?
No. All cooperative compensation fields and offers of compensation to buyer brokers are permanently prohibited on MLS platforms. MLSs cannot filter, display, or facilitate offers of compensation between brokers. However, sellers may still offer buyer concessions on the MLS, provided they are not conditioned on paying a specific buyer broker.
Does an open house require a signed buyer agreement?
No. Hosting an open house for the seller or walking unrepresented consumers through an open house on behalf of the seller does not require a buyer agreement, provided the listing agent does not provide representation or brokerage services to the buyer. Unrepresented buyer disclosure notices must still be provided.
How do Fannie Mae and Freddie Mac treat seller credits applied toward buyer broker fees?
Under updated GSE guidance, if a seller pays fees on behalf of the buyer directly pursuant to a local custom or written contract agreement, those fees are excluded from the standard 3% to 9% Interested Party Contribution (IPC) financing caps, ensuring the buyer's loan qualification is not penalized.