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FINC 371 Chapter 8: Real estate brokerage_Exam 2, TAMU Peterson Correct 100% $12.99   Add to cart

Exam (elaborations)

FINC 371 Chapter 8: Real estate brokerage_Exam 2, TAMU Peterson Correct 100%

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  • Course
  • FINC 371 Chapter 8:
  • Institution
  • FINC 371 Chapter 8:

agency - ANSWERa legal relationship between a principal and an agent agent - ANSWERthe party authorized to conduct business on the principal's behalf blockbusting - ANSWERthe illegal practice of encouraging property owners to sell their homes when minorities begin moving into an area broke...

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  • August 5, 2024
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  • Exam (elaborations)
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  • FINC 371 Chapter 8:
  • FINC 371 Chapter 8:
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FINC 371 Chapter 8: Real estate brokerage_Exam 2, TAMU Peterson Correct 100%



agency - ANSWERa legal relationship between a principal and an agent



agent - ANSWERthe party authorized to conduct business on the principal's behalf



blockbusting - ANSWERthe illegal practice of encouraging property owners to sell their homes when
minorities begin moving into an area



broker - ANSWERan intermediary who brings together buyers and sellers, assists in negotiating
agreements between them, executes their orders, and receives compensation for services rendered.



buyer representation agreement - ANSWERthe legal agreement between a buyer and a broker hired
to represent the buyer's interest



commission agreement - ANSWERan agreement between a seller and a broker for the payment of a
commission if the broker is successful in locating a buyer for the seller's property.



dual agent - ANSWERan agent who attempts to work in the best interest of two parties on opposing
sides of a transaction. Illegal in many states.



exclusive-brokerage listing - ANSWERan agreement between a property owner and a single broker
authorizing that broker to seek a buyer for the property in exchange for compensation



exclusive-right-to-sell listing - ANSWERa listing agreement that guarantees the broker's right to a
commission if the property is sold by the seller or any licensed real estate broker or salesperson



fair housing laws - ANSWERlaws that protect the rights of certain citizens in housing transactions;
prohibit housing discrimination based on a buyer's (or lessee's) sex, race, color, religion, national
origin, disabilities, or familial status.



fiduciary - ANSWERa person who is obligated to act in the best interest of another

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