Reca residential unit 9 - Study guides, Class notes & Summaries

Terms in this set (61) Original Difference between a Customer, Common Law Agency and a Designated agency relationship Customer Relationship is when a consumer represents themselves and is a customer to the real estate representative or broker. Common Law Agency Relationship is a client relationship which the brokerage represents the buyer. Designated Agency Relationship is a client relationship which the REP represents the buyer as a designated agent. 6 responsibilities of a RE...

3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: - Answer-Trust and Confidence, Best Interests, Loyalty 3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: - Answer-Trust and Confidence, Best Interests, Loyalty 8 General Obligations of REPs - Answer-Exercise Care and Skill, Act Honestly, Negotiate Favourable terms, Maintain...

3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: - Trust and Confidence, Best Interests, Loyalty 8 General Obligations of REPs - Exercise Care and Skill, Act Honestly, Negotiate Favourable terms, Maintain Confidentiality, Disclose Information, Act in Person, Obey Lawful Instructions, Perform Mandate 6 Points of Fiduciary Duties - Provide Utmost Loyalty, Not make secret profits, Handle Confident Information...

RECA Residential Unit 2 Exam Questions and Answers (Graded A) 9 things that, when representing sellers, REPs can do - ANSWER-1. Identify the features, qualities, and advantages that relate to the sellers' property 2. Describe the property appropriately in the applicable listing service and property databases. 3. Market the property based on the features, qualities, and advantages. 4. Promote the property and answer their buyers' questions regarding it. 5. Accurately answer questions regardi...

RECA Residential Unit 1 Questions and Answers (Graded A) 3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: - ANSWER-Trust and Confidence, Best Interests, Loyalty 8 General Obligations of REPs - ANSWER-Exercise Care and Skill, Act Honestly, Negotiate Favourable terms, Maintain Confidentiality, Disclose Information, Act in Person, Obey Lawful Instructions, Perform Mandate 6 Points of Fiduciary Duties - ANS...