Buyer agency duties - Study guides, Class notes & Summaries

CISR Agency Operations Self Quiz 50 Questions with Answers Which one of the following best describes actual authority? - CORRECT ANSWER When the agency is expressly given authority in the agency contract Which one of the following statements best describes the standard of care an insurance agency owes an insurance company? - CORRECT ANSWER Loyalty, good faith, reasonable care and contractual duties Which one of the following is not one of the four benefits of ethical behavior? - CORRE...

Champions School of Real Estate - Exam Prep Latest Update 100% Pass Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent An agent owes his...

WI Real Estate Sales Exam Questions and Answers Already Passed The listing broker is the seller's agent A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's customer When a firm is representing only one side of the transaction, the firm is practicing what type of agency? Single agency Multiple Representation may only occur if there is full written consent and disclosure from all parties A broker shall provide a copy of the disclosure...

WI Real Estate Sales Exam Questions and Answers Already Passed The listing broker is the seller's agent A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's customer When a firm is representing only one side of the transaction, the firm is practicing what type of agency? Single agency Multiple Representation may only occur if there is full written consent and disclosure from all parties A broker shall provide a copy of the disclosure...

National Portion - Real Estate Exam Prep Questions and Answers Rated A+ agency a consensual fiduciary relationship authorizing a broker to act on the behalf of a client Fiduciary Relationship a relationship in which one party places special trust, confidence, and reliance in a trusted person Principal a person (client) who empowers another (agent) to act as his or her representative in a real estate transaction client those which have entered into a written agency agreement with ...

Colibri Real Estate Chapter 2 Quiz Questions with Verified Answers An agency relationship may be involuntarily terminated by which of the following? By destruction of the property through fire, vandalism, or natural disaster When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the listed property automatically becomes A subagent An agency relationship may be involuntarily terminated by which of the following? Condemnation of the property ...

PA Exam 3 with 100% Correct Answers 2023 Which of the following are NOT grounds in Pennsylvania for revoking a broker's license? A Being convicted of a felony B Agreeing with the seller to accept a commission that is more than the standard rate C Depositing an earnest money check into the broker's personal account D Advertising as a member of the Pennsylvania Association of Real Estate Professionals when the broker is not really a member - Correct Answer-B It is perfectly legal to agr...

The foundation upon which real estate brokerage is practiced correct answers Agency A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant correct answers Agency Relationship A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client correct answers Agency Agreement What are two agency agreements? correct answers Listing Agreem...

An agency relationship may be involuntarily terminated by which of the following? - By destruction of the property through fire, vandalism, or natural disaster When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the listed property automatically becomes - A subagent An agency relationship may be involuntarily terminated by which of the following? - Condemnation of the property Sally is a subagent working for Seller Pat. What does Sally owe to Bu...

What are the duties of an agent? OLDCAR - Obedience Loyalty Disclosure Confidentiality Accounting of funds Reasonable care and due diligence General agent An individual has the right to represent his or her principal in a particular type of transaction or business. One common example is the property manager. Special agent The most limited of all the agency relationships. The agent may perform only limited duties for the principal. The agent is not able to bind (obligate) the principal ...