Exam (elaborations)
MISSISSIPPI REAL ESTATE STATE PORTION DEFINITIONS QUESTIONS AND ANSWERS
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MISSISSIPPI REAL ESTATE STATE PORTION DEFINITIONS QUESTIONS AND ANSWERS
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1-74 of 74the duties an agent owes to his or her client in a real estate transaction, to include
loyalty, lawful obedience, confidentiality, disclosure, reasonable skill, care, diligence,
full accounting, and honest and fair dealing.
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fiduciary duties
,anyone who sells, buys, leases, etc. property for a fee
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broker
any person employed or engaged on behalf of a licensed real estate broker to
perform, for compensation or consideration, any activity included in the above
definition of a real estate broker.
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real estate salesperson
the Mississippi state agency which was created by ____________ to regulate the licensing
of real estate brokers and salespersons, with its duties and authorities included in the
law.
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73-35-5
an appraisal classified as ______________ that relates to the nature, quality, or utility of the
property
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, evaluation assignment
-before showing the property to a prospective buyer
-eliciting a buyer's confidential information regarding his or her real estate needs,
motivation, or financial qualifications
-executing any agreements related to the sale, purchase, lease, exchange, auction, or
management or real estate for a fee
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first substantive meeting
members of the commission select a _____________ from the membership.
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chairman
an agency relationship wherein one agents represents both the seller and the buyer in
the same real estate transaction.
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disclosed dual agency
deposit and account for all third-party monies
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