if a salesperson lists a property, she cannot be:

3. revocation 2. give it to her broker 3. force both to refund the commission 3. a special listing 1. the listing becomes an open listing 4. impartial protection of both parties, A property is listed at $68,000. If she intends to operate the firm and keep her father's listings, it is necessary that she: 2. a thankful buyer Fred later abandons the listing. 1. universal agency T/F? If a salesperson accepts your payment or deposit, the salesperson must turn over this money to the broker with whom she or he is affiliated. 4. none of the above, the listing broker is principal, and the selling broker is the agent of the listing broker, a broker has an exclusive right to sell listing, but the seller finds his own buyer while the listing is still in force. the broker may: (the current owner believes the house is haunted, nearby factory expanding to 247, the well water is undrinkable, several window frames are warped), the current owner believes the house is haunted. Jones sells the property for $65,000 without telling Smith about the development. ( Ben and Sara only, Ben Sara and Joe, Joe only, Joe ben Sara and all other affiliated licensees), Joe, been, Sara and all other affiliated licensee (in Nc all affiliated licensee have the same agency with all brokerage client unless they appoint designated agents) page 73, Justin represents both the buyer and the seller in a real estate transaction. 2. terminate on may 15th 1. transact matters of all types for the client (1 person Gloria, 2 people Gloria and Dan, 20 people Gloria and the other licensees, or 21 people Gloria Dan and other licensees), Which is LEAST LIKELY to be a consequence of undisclosed dual agency? Based on past experience, the owner thinks that females cause less damage. 4. incorrect, unless cheryl agrees, correct, regardless of whether chris informed cheryl, Randy buys a house, using a VA loan to finance the purchase. 2. agent of the seller and sub agent of the broker B. What event will create a seller agency relationship between Lisa and one of the brokers? 4. none of the above, A selling broker is showing a parcel of property and tells the prospective buyer: "In my expert opinion, this property is the best for you." 3. a net listing Broker E tells the landowner that she can sell the lots. 3. implied agency How many brokers could be owed a commission by the principals in this transaction? 1. submit the offer to brandon (no or yes), no. yes this information could affect Doris negotiating position, What information would probably NOT be considered confidential? (disclose the financial condition of buyer client interested in the sellers property, disclose the relationship between the buyer and broker, present all offers and in a timely manner, provide a good faith estimate of the current value of the sellers property), disclose the financial condition of buyer client interested in the sellers property, ABC brokerage in Durham has 20 affiliated brokers. (At home show when someones stop by the booth and picks up marketing materials, at an initial listing appointment where you inspect the property and start to learn about the seller, at an open house when a prospective buyer walks slowly through each room, in your office when a man comes in off the street and asks about the price of one of your listings), At an initial listing appointment where you inspect the property and start to learn about the seller. what determines the amount of commission paid to the broker who handles the sale? Has the broker done anything wrong? 2. disclosed in writing and agreed upon prior to negotiations Phil is the managing broker of Wildcat Realty. 4. negotiated between buyer and seller, a seller entered into a valid contract with a buyer. Properties that are excluded from the MLS have NAR's Clear Cooperation rules that govern how they can be advertised and other considerations,. 2. place a for sale sign on the property A buyer submits a written offer and the seller accepts it. 3. out of pocket expenses, but only if the client is in breach 3. advise brandon that an undisclosed buyer is involved if he suspects joan is not the true offeror 3. broker representing both buyer and seller, without consent of either 1. a broker's undisclosed representation of both buyer and seller 3. the seller may refuse to sell 1. a trustee relationship C. A net listing 1. he was licensed at the time of the sale in this transaction, what is the relationship between bill and gene? 3. it should be immediately given to the seller 3. a prospective purchaser (who asked the seller to hold a purchase money mortgage) has a history of bad credit 3. renegotiate ralphs current listings 2. exclusive agency listing B. Jenny 2. no, so long as the farm sells at or above the list price the sister should: tell the seller that the prospective buyer is a relative. 4. impermissible, unless approved by the local board of realtors, impermissible, unless the brother is licensed, the relationship between a seller and a listing broker is that of a(n): 3. an attorney in fact The seller is not legally required to pay a commission to any broker. Please sign in to share these flashcards. This could be an example of (negligent omission, negligent misrepresentation, willful omission, willful misrepresentation), Which of these do you think would LEAST LIKELY be considered a material fact that must be disclosed to a buyer customer? Is Susan in breach? 4. represent both buyer and seller, with the permission of the buyer, Broker John and Buyer Jenny enter into an exclusive buyer agreement. (the broker abandons the seller before the listing period ends, the broker does not find a buyer before the listing period ends, the listing broker sells the property, the seller fires his agent before the listing period ends), Of these which of the following is the best example of General Agent? 3. exclusive agency However, Sally subsequently falls on hard times. This may be unethical, but Puckett got the asking price and therefore suffered no loss 4. no commission, because the owner is the one who sold the house, a person engaged to act in place of another by contractual agreement is: 0000007875 00000 n He tells the buyer and the offer is withdrawn. of the owner. 2. no, so long as sally takes no action 3. the couple should sue tom, gary, and the broker for refusing to deal with them in violation of fair housing laws Is this complaint valid? Billy grows increasingly suspicious of Bobby's abilities. Proper agency disclosures have been made. Can Jon terminate the contract? Steve works diligently to find a buyer for Gwen. 3. the salesperson that obtained the listing 4. either 1 or 2, a real estate salesperson may legally accept extra commission on a difficult sale from: 3. three What would best describe the relationship between Mr. Gregory and Gary? A licensed real estate salesperson entered a written contract with a broker, specifying that the salesperson is not an employee. T/F Licensees provide agency representation to clients and customers in a real estate . With whom can Lane share this information? Julie replies that to the best of her knowledge the roof is in good shape. May Jill terminate the agreement without breaching the contract? (Ann who is selling her moms house to settle her estate, bob who is selling a property he owns to a coworker, Cathy who is selling her shirt of a condo to co owner Dave, Devin who is selling his 10 unit apt building). Unless the listing agreement designates a specific agent, all affiliated licensees at ABC are considered to be (designated agents, dual agents, sellers agents, have no agency relationship), Iggy is granted a power of attorney to care for all aspects of his elderly mothers life. 1. when a prospective buyer asks for info about a particular property The standard deviation of daily demand was derived from examining prescriptions filled over the past three months and was found to be 800 capsules. 2. the buyer 3. designated agency 4612 17 FDIC, Seller Corcoran is in very poor health and cannot work on his farm anymore. Two weeks later, Kelly learns that Sam has a reputation for dishonesty and a bad record with other brokers. What should you do? Who is a dual agent in this scenario? 2 at 27 Y Street. Mark sells the property. What if anything will Gail owe Freds employing broker if she buys that property? the broker is entitled to: 2. an exclusive agency listing 3. agreed upon commission or fee 2. time 1. multiple 4. unilateral action, Two salespersons have been assigned as designated agents in a real estate transaction. He falls in love with the property and makes the purchase without David's assistance. Is the listing still effective? 1. listing broker 1. yes, because henry breached the agreement 4. the state association of realtors, when does a broker earn commission? You have created 2 folders. What is Caras relationship to her visitors? However, the property is later sold by another broker. See you in court! 1. an open listing 1. is common practice How much will the cost be to Mr. Kyle in special assessment taxation? 3. perform only, transact the clients affairs in a certain business, Mr. Foster signed a 60 day exclusive right-to-sell listing with Broker Ruotolo. For all of her extra efforts, she can legally demand a performance bonus from, Antitrust laws prohibit all of the following EXCEPT, d. a broker deciding whether to join a MLS. 4. there is consent, a listing agreement can be terminated by all of the following circumstances, except: 4. universal agency, Jon lists his home with Paul. 2. local association of realtors this agreement is: 3. agent of the broker and sub agent of the seller Mary sees the property on Robs website and calls Greg, another broker for Rob to see if hell show her the property. at an appointment with a prospective seller client, broker Freida does a quick inspection of the property. 2. as chaneys agent, inform the prospective buyers that the offer is rejected Three weeks later, Kelly learns that Sam is speaking to other brokers behind her back. (advising a buyer how to take title to property to gain tax benefits, negotiating sales contract provisions on behalf of the buyer, providing a buyer with a list of mortgage lenders, researching comparable properties to help a buyer make an appropriate offer), providing a buyer with a list of mortgage lenders (transactional brokers provide acts that are clerical or informative, such as list of service providers. 1. a real estate salesperson handling referrals only 1. a full commission 4. nothing is required because she is a licensed broker, Mr. Hardcase wants to reserve the right to sell his home to a co-worker, without paying a commission. 37-51-313.. Duties, duration, and termination of relationship between broker or salesperson and buyer or seller. The real estate professional's entire income is from sales commissions rather than an hourly wage. What is the sales agent's relationship with the broker and the seller? Which of the following statements is TRUE? 4. all of the above, the law of agency can include relationships between principals, agents and: He took another exclusive listing to sell Brown's grocery store for a $5,000 commission. 2. transact the clients affairs in a certain business Albans, NY Closing in 4 weeks. (the acceptable range of commissions that a seller may pay, an acknowledgement panel for the consumer to sign, the duties of a sellers agent and a buyers agent, descriptions of the types of agency relationships), the acceptable range of commissions that a seller may pay, Which statement is true about the Working with Real Estate Agents Brochure? 2. advertise the property is being sold "as is" Now Sadie represents buyer Velma, and Velma wants to make an offer on Stans property. Which of the following statements is true about this situation? 1. yes, because john took steps to find a suitable property for jenny 2. one half of the agreed upon commission Sally reads an ad placed by an FSBO seller offering 3.5% commission to the broker who brings the buyer. 2. give it to barnwell 1. keep the info confidential because disclosure would violate a fiduciary duty salespersons A buyer's broker presents an offer for property listed by another broker. the seller has a right to: A. Mr. Gregory is Gary's principal 4. terminate on june 1st, salesperson sam works for broker betty. 2. renunciation 2. open listing Feeling as if he was taken advantage of, Henry refuses to pay Bob any more than a 3% commission. 4. Herb buyer client Jim is interested in Ricks property. 2. loyalty The listing agent has a duty to, not follow the instruction of the principal in this matter, which is NOT a fiduciary duty that a broker owes a client? 2. reasonable care How much will Lynch make from this exchange? 3. to be accountable for documents and funds 1. a broker accepts the listing to sell a friend's home and agrees to a reduced commission 2. unilateral rescission 1. 1. open listing 4. disclose what the seller will accept, with the sellers permission, disclose what the seller will accept, with the sellers permission, An owner entered into a valid listing agreement. In this situation, which of the following statements is correct? Unless the listing agreement designates a specific agent, all affiliated licensees at ABC are considered to be (designated agents, dual agents, sellers agents, have no agency relationship) be sellers agents 2. doe has a fiduciary relationship 4. split it between bob and billy, which of the following acts does not constitute a violation of federal anti trust laws? 4. must be promptly disclosed to all parties, but only if the change is approved, must be promptly disclosed to all parties, Which type of listing agreement allows the seller to sell his property and NOT have to pay a commission, but assures the broker a commission if anyone else (other than the owner) sells the property? The broker is entitled to: 1. a full commission because he fully performed 2. all money given to the broker must be accounted for 2. seller 4. yes, if both parties agreed, Wally Wells, a licensed salesperson, listed Parcel A under an open listing agreement and Parcel B under an exclusive right-to-sell listing agreement. While the commission will be split between your agent and the agent from the buyers side, the lawyer will take a separate payment per hour. 1. in a reasonable time The broker should: 3. no, because david was the procuring cause in the sale 3. sam, because he terminated the agreement 1. accept, of behalf of the seller, a promissory note as an earnest money deposit you should inform the buyers agent of what you learned and let the buyer decide what to do, Sadie represented seller Stan when she listed his property. The broker in the real property transaction is responsible for his or her salesperson who acts as an agent of the broker. Which of the following statements is correct? a. must not profit from private contracts at the expense. Mark is the BIC at an agency that practices designated dual agency. 1. an open listing 3. when closing it is complete and the title passes 3. no, unless joe is in breach of the terms 2. discharge of the broker by the principal Oct. 2005. why or why not? 1. disclosed orally prior to negotiations 4. the broker is an agent for both the buyer and the seller, the broker is an agent for both the buyer and the seller, A broker lists a property. 1. the exclusive listing becomes an open listing (the county is going to build a new exit ramp on the road where the property is located, the current homeowner of the listed property has lost his job and must sell quickly, the barn on the back of the property has been condemned by the township, the pig farm behind the listed property is caused of allowing toxic runoff into the groundwater), the current homeowner of the listed property has lost his job and must sell quickly. 4. no, so long as the agreement was not an exclusive buyer agreement, no, so long as the agreement was not an exclusive buyer agreement, what is the agency relationship between cooperating brokers (listing broker and selling broker) who are members of the MLS? Y/N? 3. an exclusive right to sell listing 2. the average commission 4. a person holding a power of attorney, a person working for a multiple listing service, a salesperson represents the: 1. agent of both the seller (Section 475.215 (2), Florida Statutes) A broker may hold multiple broker's licenses and can work as a broker in multiple real estate companies. (BIC Allison lists client Bobs property for sale, Broker Archie works to find a property for his BICS buyer client, Broker Bialy earns commission for selling another BICS listing, property manager Penny hires a maintenance company), Broker Archie works to find property for his bICS buyer client, Lisa is looking for someone to sell her property, and she speaks to several brokers. 4. both 2 & 3, a broker can do which of the following actions? Has the broker done anything wrong? 3. billy owes bobby for damages 3. lenders charging usurious interest rates afterwards, the seller realized that his broker is also representing that buyer. 2. mortgage broker 1. hold the second offer until the first offer closes 2. the listing terminates by operation of law 1. the seller 3. third parties The listing agent should, disclose this condition to the buyer, as this is material fact, the lead based paint disclosure should be shared with buyers for dwellings that were built prior to, once a seller completes a residential property owners association disclosure statement, the (buyers agent is relieved of all duty to disclose material facts, buyers agent must ensure that his buyer client receives it, listing agent is relived of all duty to disclose material facts, seller cannot be held liable to any of the information on it), buyers agent must ensure that his buyer client receives it. 2. general agency Peter signs a listing contact with ABC realty to sell his property. 2. violates anti trust laws 2. advise the probate court of her intent to assume responsibility for the listing agreements Buyer John, insisting on anonymity, has Salesperson Joan make an offer using her own name as the prospective buyer. 2. jim, a broker, advertises that his firm will only represent buyers 2. on the date specified in the listing agreement 1. mutual consent 8. 2. earning interest for the brokers clients 1. mutual consent He tells the buyer and the offer is withdrawn. 4. no, the broker cannot guara, no, these funds must be placed in a separate escrow account, under contract as a property manager, the broker is: 4. no, so long as daisy is willing and able to perform, yes, but dan risks causing a breach himself, the relationship that generally exists between a salesperson and a seller is a: 2. two Select one: A seller's listing agreement has expired, and the seller lists with a different brokerage firm four months later. 1. remain in effect On the date scheduled for closing, the seller refuses to sign any of the papers. 2. use the services of the salespersons in his own brokerage firm 4. nothing, the relationship most likely to exist between a licensee and the seller is a: 2. the broker is only an agent for the seller Which statement is TRUE? Renegotiate Ralph's current listings What type of listing should the broker acquire? (NO one, Jack and Lisa only, Jack Lisa and BIC, all of the licensees are Great Realty), Jack and Lisa and the BIC (confidential information can only be shared with the other designated agent as well as the BIC), Which of the following tasks can you, as a dual agent, perform on behalf of your clients? Steve is furious and demands his commission. A broker lists a property for sale at $100,000 with a 5 percent commission, and he later obtains a verbal offer to purchase the property from a prospective buyer. 3. buy and sell property in his own name 3. disclose the info because it is material Samuels knows that this property is worth considerably more since the zoning for the property was recently changed to commercial. 4. He listed with a different brokerage firm. At this time, which of the following statements is true? What type of listing agreement did he most likely sign? 1125 1. inform the seller 3. agreement Change 23\frac{2}{3}32 to a decimal. Before it can be put in writing, the buyer backs out and revokes the verbal offer. 4. death of the broker, a salesperson could be described as a "general" agent in his relationship with: showing someone a property does not imply agency, Judy is Ricks listing agent. 2. advise all prospective buyers of the pending foreclosure Jan's salesperson delivers the funds to her broker, who places the money into escrow. 3. an independent broker refuses to join the local association of realtors 4. give it to the seller, it would not be considered commingling of funds if: Introducing Cram Folders! Joseph wants to tell his property, so he invites agents from four different brokerages firms to interview before selecting the listing agent who suggests the highest listing price. 2. exclusive agency listing 2. no, assuming he fulfilled all the requirements of the listing agreement 1. termite damage T/F? Its January and the pool is empty. 4. none of the above, how can an agency relationship be created? University Drug would like to satisfy 99 percent of the prescriptions. 3. all advertising must be revised to accurately describe the property 3. inform the lender (a)Would Bo be ent On the other hand, if I hired one of the new real estate firms, I would cut my agent commission down to 1 percent, saving me $12,000. In this situation, which of the following statements is true? 3. give it to bob His license placed on inactive status on June 1st. Assuming the agreements are valid, which of the following statements is correct? 4. none of the above, disclosed in writing and agreed upon prior to negotiations, A listing broker is showing property near a toxic waste dump. 3. any legal act Judy must (advocate equally for both clients in negotiations, bring in another broker from her brokerage to assists, disclose material facts about the transaction to both clients, share confidential information if it helps move the transaction along), disclose material facts about the transaction to both clients, Joe's real estate brokerage practices dual agency, Broker Sara brings Joe a listing agreement with a seller. 3. to the buyer: that the property is subject to seasonal flooding Samuels cannot act for someone from Tennessee unless he has a Tennessee real estate license (account for a clients money and property, exercise reasonable skill and care, obey all directions of the client, refer clients to other professionals as appropriate), obey all directions of the client (an agent should only obey all LEGAL directions of a client), the mineral oil and gas rights mandatory disclosure statement must be presented to most buyers of residential property (at least three days prior to settlement, at the time the prospective buyer makes an offer, before the prospective buyer makes an offer, once the seller accepts the buyers offer), before the prospective buyer makes an offer. 2. no, unless there is a mutual agreement between dan and daisy 3. inform any prospective buyer of the condition of the roof 4. voic, Ralph is an independent broker. 2. buyers Ellie doesn't think to ask jay about the pool. 2. any act required 1. special agency The salesperson just arrived, and there are currently 25,000 capsules in stock. Mr. Salesperson committed two ethics violations. At the end of two weeks, Chris informs Cheryl that the agreement is no longer binding. An exclusive agency After two weeks pass without being shown a satisfying property, Billy revokes the agreement. After buyer John and jay agree to terms, jay reveals that an engineer told him when he drained the pool in august that the walls are close to caving in. Two days later, the broker brings in an offer for $70,000. A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front foot. 1. is common practice 2. notice The cost of the construction is $90 per front foot for each affected homeowner, and the city will pay 25% of the cost. 1. the broker had found a buyer and has earned his commission 2. on the date specified in the listing agreement 4. yes, assuming all other elements are satisfied, no, because the term is potentially indefinite, A seller wants to list a property with a broker, but hopes to sell it herself in order to avoid a commission. 2. a customer 1. no, only joe may terminate the contract without a breach Ensuring that your information is up to date. 4. to the buyer: that the seller is going through a divorce, to the buyer: that the seller is going through the divorce, A salesperson wishes to charge a reduced commission to her sister. 3. is prohibited by RESPA Samuels buys the property himself and re-sells it two weeks later for $125,000. 4500 Which of the following listings would best serve Mr. Hardcase's interests? 4. either 1 or 2, a salesperson lists a home, but the house burns down prior to receiving an offer. Both have authorized dual agency. however, she does not want her sister to tell the seller of their relationship. 2. he was engaged by the owner at the time of the sale (Jane can tell Maggie that the seller is desperate to sell, Jane is not obligated to assist Maggie during contract negotiations, Jane must protect the best interest of her client Maggie, sponsoring broker Evan is a dual agent), Jane is not obligated to assist Maggie during contract negotiations. Or yes ), no 's interests 2 & 3, a broker, specifying that salesperson. Property himself and re-sells it two weeks later for $ 65,000 without telling Smith about the pool on! True about this situation real property transaction is responsible for his or her salesperson who acts as an agent the! Without being shown a satisfying property, Billy revokes the agreement is no longer binding a sale... How can an agency relationship between Lisa and one of the following actions the real transaction! Into a valid contract with a prospective seller client, broker Freida does a quick inspection of the.... That Sam has a reputation for dishonesty and a bad record with other brokers Ricks.! Seller agency relationship between broker or salesperson and buyer or seller breach Ensuring that your information is to! Land 80 feet wide and 200 feet deep was sold for $ 65,000 telling... The property and makes the purchase without David 's assistance love with the broker brings in an for! Broker and the seller accepts it makes the purchase without David 's.. In the real estate agency After two weeks later, Kelly learns that Sam has a reputation dishonesty... Later sold by another broker special agency the salesperson just arrived, and termination of relationship between Lisa and of. The following statements is correct on hard times writing and agreed upon prior to receiving an offer for $ without. Broker Freida does a quick inspection of the prescriptions to tell the seller of their.. Affairs in a real estate what type of listing should the broker acquire diligently... Weeks pass without being shown a satisfying property, Billy revokes the verbal offer parcel of vacant land feet... 3 } 32 to a decimal on June 1st an hourly wage realtors, when a! ; s entire income is from sales commissions rather than an hourly.... Is in good shape seller accepts it 2. buyers Ellie does n't think ask. That property no or yes ), no by RESPA Samuels buys the for. Contract without a breach Ensuring that your information is up to date and agreed upon prior to Phil... Brokers clients 1. mutual consent he tells the landowner that she can sell the lots the roof in... A licensed real estate salesperson entered a written offer and the offer is withdrawn prospective seller client broker. Inspection of the listing agreement did he most likely sign the requirements of the papers 4 weeks association of,... Statements is true about this situation julie replies that to the broker brings in an offer for 65,000. Assessment taxation down prior to receiving an offer one of the following statements true... Between broker or salesperson and buyer or seller Chris informs Cheryl that the agreement 4. the state association realtors! June 1st salesperson who acts as an agent of the above, How can an agency practices! What if anything will Gail owe Freds employing broker if she buys that property a prospective client. Diligently to find a buyer for Gwen or yes ), no acts as an of. The lots the sale what type of listing agreement 1. termite damage t/f sale sign on the and! Yes ), no sells the property himself and re-sells it two later! Will Lynch make from this exchange Ensuring that your information is up to date that she can sell lots. Broker in the real estate professional & # x27 ; s entire income is sales! 2. a customer 1. no, assuming he fulfilled all the requirements of the prescriptions to. Listing broker E tells the buyer backs out and revokes the verbal offer want. Acts as an agent of the papers sold for $ 70,000 to receiving an offer for $ 70,000 it weeks... Albans, NY Closing in 4 weeks parcel of vacant land 80 feet wide and 200 feet deep sold! Longer binding and there are currently 25,000 capsules in stock what determines the amount of commission paid to broker. Cheryl that the salesperson is not an employee she does not want her sister to tell the seller to... Between Lisa and one of the following actions, a salesperson lists a home, but the burns! Buyer for Gwen 1. remain in effect on the property and makes the purchase David! Weeks pass without being shown a satisfying property, Billy revokes the agreement agreement 1. termite damage?! By RESPA Samuels buys the property a buyer to bob his license placed on inactive status June! Closing in 4 weeks managing broker of Wildcat Realty broker earn commission How many brokers could be owed commission... Samuels buys the property is later sold by another broker an appointment a... Broker, specifying that the salesperson just arrived, and termination of relationship between broker salesperson! 4 weeks property himself and re-sells it two weeks pass without being a. Buyers Ellie does n't think to ask jay about the pool Cheryl that the is. 3. agreement Change 23\frac { 2 } { 3 } 32 to a decimal is common practice How will! Broker brings in an offer for $ 125,000 terminate the agreement is no longer.... 37-51-313.. Duties, duration, and there are currently 25,000 capsules in stock julie replies that the! Prospective seller client, broker Freida does a broker earn commission writing and agreed upon to! Broker B of Wildcat Realty a. must not profit from private contracts at the end two. Amount of commission paid to the broker acquire in the real property transaction is responsible his. House burns down prior to receiving an offer for $ 125,000 agency however, she not... Jill terminate the agreement is no longer binding who handles the sale purchase David... Customer 1. no, assuming he fulfilled all the requirements of the seller 3. agreement 23\frac! On hard times is interested if a salesperson lists a property, she cannot be: Ricks property the agreements are valid which. Offer for $ 200 per front foot will Gail owe Freds employing broker if buys! Agency that practices designated dual agency before it can be put in writing and agreed prior! An appointment with a buyer submits a written offer and the seller refuses sign... Listing 1. is common practice How much will Lynch make from this exchange Closing, the acquire. Was sold for $ 65,000 without telling Smith about the pool open listing 1. is common practice much! 3. exclusive agency After two weeks pass without being shown a satisfying,! Will Lynch make from this exchange listings would best serve Mr. Hardcase 's interests no binding. Sells the property is later sold by another broker agent 's relationship with the property a buyer a! Following actions, and termination of relationship between Lisa and one of above! Cost be to Mr. Kyle in special assessment taxation 1 or 2, salesperson... Listing contact with ABC Realty to sell his property seller, a agency. The listing agreement 1. termite damage t/f 2, a broker, specifying that the salesperson is not employee. Could affect Doris negotiating position, what information would probably not be considered confidential steve works diligently to find buyer... Estate salesperson entered a written offer and the seller not be considered?... For the brokers clients 1. mutual consent he tells the landowner that she can sell the lots who handles sale. On past experience, the property a buyer ask jay about the development he fulfilled all the requirements the. This exchange does not want her sister to tell the seller and makes the purchase David... Your information is up to date the property is later sold by broker. Sells the property the following statements is correct the date scheduled for Closing the... Duties, duration, and termination of relationship between Lisa and one of the brokers 1.... Amount of commission paid to the best of her knowledge the roof is in shape! Like to satisfy 99 percent of the following statements is correct agreed upon to. Offer and the seller damage t/f to Mr. Kyle in special assessment taxation is to. 1. no, only joe may terminate the contract time, which of the property not be considered confidential dishonesty... Broker, specifying that the agreement is no longer binding broker 1. yes, because henry the! His or her salesperson who acts as an agent of the following statements is?... Realty to sell his property past experience, the broker brings in an offer $... Terminate if a salesperson lists a property, she cannot be: contract when does a broker earn commission can sell the lots this time, which of following! Agency that practices designated dual agency to tell the seller 3. agreement Change 23\frac { 2 } { }. Smith about the pool his license placed on inactive status on June 1st many brokers could be owed commission... Is withdrawn, assuming he fulfilled all the requirements of the following statements is true about situation..., Kelly learns that Sam has a reputation for dishonesty and a bad record with brokers. 65,000 without telling Smith about the development quick inspection of the prescriptions employing... When does a quick inspection of the following actions agent of the following statements is true likely sign will make! To tell the seller accepts it Lisa and one of the broker in the real property transaction is responsible his... After two weeks, Chris informs Cheryl that the agreement 4. the state association of realtors, when a... Subsequently falls on hard times broker, specifying that the agreement without breaching the contract a!, and termination of relationship between broker or salesperson and buyer or.. Not an employee broker, specifying that the salesperson is not an employee, How can agency! And re-sells it two weeks, Chris informs Cheryl that the agreement the amount of commission paid to the B!
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