2. escrow agents 3. the listing remains valid According to Article 1 of the Code of Ethics and Standards of Practice of the National Association of Real (2) Family members or other interest. 2. inform the buyer 0000000016 00000 n
Which agency relationship requires the written consent of both parties to the transaction? Prospective buyer Vera sends an email to broker Tammy after looking at available properties on her website. Gails contract with Freds employing broker promises 3% commission. Both listings expired. Martin is a salesman for Broker Doe. Which of the following statements is correct? 2. revocation by the principal At an office meeting, Anne tells her broker that the seller might accept a lower price because of the issue. Which party breached the listing agreement? 2. two 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. 4. none of the above, Broker Lynch has an exclusive listing to sell Jones' hardware store for a $4,500 commission. He tells the buyer and the offer is withdrawn. 4. split it between bob and billy, which of the following acts does not constitute a violation of federal anti trust laws? 4. none of the above, kelly, because she unilaterally terminated the agreement, Ralph is an independent broker. 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. 1. the state real estate board 3. lenders charging usurious interest rates (agreement of sale, as is addendum, listing agreement, residential property owners association disclosure statement), Residential Property Owners Association Disclosure Statement, All of the following should be disclosed to a prospective buyer if known by the seller except (if a convicted sexual predator lives in a neighboring house, material defects in the wall septic or sewer, underground storage tanks on the property, whether there is history of infestation), if a convicted sexual predator lives in a neighboring house, a seller completes a residential property and owners association disclosure statement that states that there are no conditions in the property that are in need of repair. 3. broker representing both buyer and seller, without consent of either 4. yes, assuming that gwen is in breach, Harry hires David to be his buyer-broker. Broker Glenn brings Mark a listing contract with a seller. 1. when the listing is taken You keep this information to yourself. A real estate professional is a licensed real estate salesperson who has a written contract with his broker that specifies that he will not be treated as an employee. A broker represents a buyer. You have a buyer client who asks you directly whether there are any known sex offenders in the area. However, Broker Joe files for bankruptcy before the property actually does sell. Jenny's salesperson delivers the downpayment to Jan's salesperson. 1. leasing property 1. a real estate salesperson handling referrals only 0000000653 00000 n
B. Jenny The broker in the real property transaction is responsible for his or her salesperson who acts as an agent of the broker. 1. file legal notice of her intent to assume responsibility for the brokerage business betty enters into a listing agreement with cheryl the seller. He walks away with a dozen brochures. (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. 3. when the property is sold 3. deposit earnest money in her escrow account 4. all of the above, smith dies and his real property is sold. 4. a split commission, no commission so long as wally was not the procuring cause, Puckett lives in Tennessee, but owns property in Virginia. 1. no, because jones did not buy the property himself 3. no commission so long as wally was not the procuring cause trailer
2. give it to her broker With whom can Lane share this information? 4. voic, Ralph is an independent broker. 1. mutual consent Both have authorized dual agency. How much does the selling salesperson earn from the sale after deducting expenses of $35, {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Chapter 15","payreferer_url":"\/flashcards\/copy\/chapter-15-308298","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. 0000002530 00000 n
D. No agency relationship exists, garys broker is the agent of mr. gregory for a reasonable time, a seller tells a broker that she wants him to sell her house. University Drug would like to satisfy 99 percent of the prescriptions. How much money would a sales person receive for her 60 percent share in the 10 percent commission? (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? 2. executory 2. mortgage broker the listing broker has exercised due care and loyalty to his principal. 1. subagency Broker E can, Salesperson N finally concluded some extremely difficult negotiations that resulted in the sale of a listed parcel of property. 4. related acts, the legal relationship between broker and seller is generally: 1. real estate broker agreeing to charge the same commission rate (becky who is selling newly built home, bob who is selling his home to his son, Cathy who is selling her condo through a broker, Evan who is selling his 10 unit home), Cathy who is selling her condo through a broker (exceptions for this are transfers to spouse or child, sales to or from gov agencies, transfers of newly constructed homes), a seller instructs a listing agent NOT to disclose a defect hidden behind a paneled wall. 2. implicity 4. exclusive right to sell listing, when does an open listing terminate? What is the seller considered to be to Sally if Brad makes an offer on the property? The sales agreement is signed. 3. bankruptcy of the seller Introducing Cram Folders! The listing agreement documents the specific percentage of the sale price that the real estate agent will receive upon successfully finding a buyer and executing the home sale. a. A licensed real estate salesperson entered a written contract with a broker, specifying that the salesperson is not an employee. 1. universal agency A. Jan 2. an open listing 3. exclusive right to sell listing A buyer submits a written offer and the seller accepts it. Which of the following statements is true about this situation? 4628 0 obj
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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. transact the clients affairs in a certain business 2. doe has a fiduciary relationship 4. his broker, a broker obtains an open listing on a piece of property. 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? Select one: Broker Ben brings Joe a buyer broker contract with the buyer for that property. 3. the couple should sue tom, gary, and the broker for refusing to deal with them in violation of fair housing laws 4. none of the above, A salesperson receives an earnest money deposit check on Monday while working with Broker Allen. When Ralph dies, his daughter (also a broker) inherits the brokerage business. 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. Jill becomes nervous and seeks to terminate the listing agreement. Which of the following statements is true about the listing? 1. yes, if sally is the broker Over the course of the afternoon, four prospective buyers visit, and Cara allows them to walk through the property on their own. 2. no, so long as the farm sells at or above the list price 1. if the selling agent changes brokers The listing includes a 7% commission and a clause which states that this agreement is in effect until the house is sold. 2. there is a formal representation 4. no one, A broker shows one of her listings to a prospective buyer. 4. to be loyal to the client, which of the following choices would terminate a buyer broker agreement? 1. yes, because the agreement was in force when harry bought the property 4. either 1 or 2, a real estate salesperson may legally accept extra commission on a difficult sale from: However, Jenny finds a suitable property on her own. 2. when the option period expires 1. one 3. an independent broker refuses to join the local association of realtors (the boundary line of the property subject to the transaction is in dispute, the current resident has aids, a murder of a previous resident occurred 3 years, the neighboring property is a group home for developmentally disable adults), the boundary line of the property subject to the transaction is in dispute, Broker Julie is showing a listed property when a buyer customer asks about the condition of the roof. 3. the listing agreement 1. accept, of behalf of the seller, a promissory note as an earnest money deposit 1. commission State the null and alternative hypotheses from the perspective of the motorist groups. 3. to be accountable for documents and funds He listed with a different brokerage firm. He informs the buyer that there are no terms or termite damages in the house. At the end of two weeks, Chris informs Cheryl that the agreement is no longer binding. 3. yes, if it is a multiple listing We weren't able to detect the audio language on your flashcards. Select one: 4. general agency, Seller Pruitt signed an exclusive right-to-sell listing with Broker Cook. all four are costumers (generally speaking visitors to an open house are simply customers, an no agency as been created until the relationship gets more serious), What information is NOT included in the Working with Real Estate Agents brochure? 2. general agency 3. correct, regardless of whether chris informed cheryl 3. he was procuring cause of the sale the sister should: tell the seller that the prospective buyer is a relative. this agreement is: You have created 2 folders. Do you think you should share this information with Dories? 2. the selling broker 4. a firm has some salespersons working as independent contractors and others working as employees, two brokers agree to only market their services in specific areas of the community, dan and daisy enter into a buyer broker agreement. 2. as chaneys agent, inform the prospective buyers that the offer is rejected D. None of the above, a listing may be revoked by: 3. reimbursement for out of pocket expenses startxref
3. a claimant 1. yes this information could affect Doris negotiating position, What information would probably NOT be considered confidential? 3. no, this violates the agency agreement He told her he was willing to accept $5000 less than the listing price, but he did not accept any offers before the listing agreement expired. 4612 17
3. a general agent 2. the selling broker Based on the residential lead based paint hazard reduction act, what must a seller do? T/F? Samuels can only purchase the property after informing Puckett of the zoning change 2 Brenda agrees, which could be an example of willful omission, Broker mike relied on his seller clients word about the age of the furnace, and so indicated on the MLS that it was two years old, when in fact it was 12 years old. 4. there is consent, a listing agreement can be terminated by all of the following circumstances, except: 2. the percentage of commission or fee 0000005476 00000 n
3. exclusive right to sell listing 2. exclusive agency buyer agency agreement 3. seasonal flooding 1. mutual consent 2. suggest that the buyer should make an offer for 185500 1. the seller 1. the broker had found a buyer and has earned his commission real estate broker, regardless of whether he or she is an employee for purposes of the Real Estate Law, or an independent contractor of the real estate broker for federal and state income tax reporting purposes. 4. establishing territories in which brokers may operate, A seller wants to list her home with a broker, but would like the option to sell it herself without paying a commission. 4. all of the above, which of the following listings will permit an owner to sell his property without paying a commission to any broker? 2. the buyer 3. her broker 1. a broker's undisclosed representation of both buyer and seller Which listing agreement should the seller NOT sign? He maintains her finances, signs any legal papers, hires caregivers, and if mom is unwell, Iggy takes her to the doctor even if she does not want to go. Has the broker done anything wrong? 4. none of the above, An owner is listing his rental property with a broker. The cost of the construction is $90 per front foot for each affected homeowner, and the city will pay 25% of the cost. What is the sales agent's relationship with the broker and the seller? (one , two, three , four), The listing broker is offering to pay a buyers agent 2% of the 6% commission. 2. exclusive agency 2. an individual gives written authority for a broker to buy, sell, or exchange his real property for a one year period The broker knows that the listed property borders a toxic waste dump, as identified by the EPA. Assuming that all of these listings are valid, which of the following statements is true? In this situation, which of the following statements is correct? 2. to the seller: that the state plans to build a new highway near the property 2. a property manager enjoyed by the owner 4. impartial protection of both parties, A property is listed at $68,000. 1. oral (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. 3. the seller may refuse to sell 3. disclosed in writing after negotiations Phil takes a listing on January 3rd. 1. that the current owner has HIV yes because his untrue statements could be seen as an inducement to buy. 2. the listing terminates by operation of law 1. bankruptcy of a principal 8. Y/N? 3. foster must only pay ruotolo, and ruotolo will split the fee with gray 2. present the second offer 4. none of the above, who is intermediary between a buyer and a seller? 1. the seller 3. yes, but dan risks causing a breach himself 4. a fiduciary relationship, which circumstance would terminate an agency by operation of law? 3. unassignable 2. billy was in breach 2. advertise the property is being sold "as is" 3. a confidential relationship 4. an agent for the buyer and seller, a listing agreement will automatically terminate: an owner is listing his rental property with a broker. Buyer John, insisting on anonymity, has Salesperson Joan make an offer using her own name as the prospective buyer. 1. buyer broker agreements cannot be assigned 2. jim, a broker, advertises that his firm will only represent buyers 1. a full commission because he fully performed 3. give it to bob 3. advise the buyer that the seller is flexible 4. general, which of the following persons would likely not be an agent? Cram has partnered with the National Tutoring Association. 1. in writing 3. state real estate commission 1 2. implied 2. place a for sale sign on the property 4. all of the above, which of the following items would not be a latent defect that the seller must disclose to the buyer? 1. yes, but dan waives his right to specific performance 4. all of the above, on the date specified in the listing agreement, which of the following items is not required in an open listing? 2. no, unless there is a mutual agreement between dan and daisy 1. a trustee relationship Samuels cannot purchase the property under any circumstances, samuels can only purchase the property after informing puckett of the zoning change, a property management contract could exist between the property manager and: 4. none of the above, An owner lists a home with a broker for $72,000. A full price offer is made without contingencies. Jim, the original listing agent, now has a buyer interested in the seller's property. Cara is sitting at an open house at one of her listed properties. 3. inform any prospective buyer of the condition of the roof In NC a seller must provide specific documentation to a potential purchaser regarding the condition of the sellers pretty prior to entering into a contract. 3. rescind the listing 1. set by the MLS %%EOF
2. the listing remains effective 4. either 2 or 3, A buyer's broker presents an offer on a property listed by another broker. 1. destruction of the property May Jill terminate the agreement without breaching the contract? 3. special agency 1. it should be immediately given to broker alien 3. attach the check to the contract and file it 1. is common practice Its January and the pool is empty. 2. no, so long as the farm sells at or above the list price in this transaction, what is the relationship between bill and gene? 3. death of the salesperson 1. not mention the condition of the roof because of the fiduciary responsibility to the seller 3. the tenants This may be unethical, but Puckett got the asking price and therefore suffered no loss 3. net listing 4. none of the above, who is an intermediary between a buyer and a seller? Steve works diligently to find a buyer for Gwen. Must Jenny pay John a commission? In fact the roof has a leak that her seller client never told her about. 1. exclusive buyer agency agreement How much will the cost be to Mr. Kyle in special assessment taxation? Is the listing still effective? On the date scheduled for closing, the seller refuses to sign any of the papers. Based on these facts, the real estate professional will be treated by the IRS as A seller's listing agreement has expired, and the seller lists with a different brokerage firm four months later. 2. a customer (brokers are required to present to those bidding at auctions, brokers can use it for commerce properties if they choose, brokers must retain the acknowledgement panel, brokers must present it to all open house visitors), brokers much retain the acknowledgement panel (for three years after the termination of the agency relationship or the close of the transaction whichever is later. University Drug Pharmaceuticals orders its antibiotics every two weeks (14 days) when a salesperson visits from one of the pharmaceutical companies. Salesperson Rupert finds a ready, willing, and able buyer for Jon's home. 2. earning interest for the brokers clients 3. not valid unless its in writing After much hard work, it looks as if the property will finally sell. 4. all of the above, Barry, a salesperson with XYZ Realty, lists a property. If the total commission on the sale is $4,500, how much does Broker B receive? 1. advise the owner that this restriction is illegal 3. not valid unless its in writing in order to collect a commission on the sale, he must provide which of the following details? 4. exclusive right to sell listing, Jon and Jacob are parties to a valid agency agreement. 4. the death of the salesperson, National Topic Tester - Practice of Real Esta, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Operations Management: Sustainability and Supply Chain Management, CSCP MOD 2 CH 12 SEC A | Exam Success CH 4. 2. yes, if the broker promises to ensure such funds will be available at closing 3. use the MLS to market the property Garrick of Cardinal Realty is a buyers agent for client Tara. 4. as many as the owner chooses, a special agency empowers the agent to perform: 1. transact matters of all types for the client Steve is furious and demands his commission. The seller instruct you not to tell any buyer about the accident. In this situation, which of the following statements would best describe the position of the XYZ Broker? 2. exclusive agency listing However, when Steve presents the offer to Gwen, he discovers that Gwen also worked with Broker Gerry and sold her home without informing Steve. 1. yes, because henry breached the agreement Corcoran's broker discloses this fact to prospective buyers. State the null and alternative hypotheses from the perspective of road-safety groups. 4. yes, if both parties agreed, Wally Wells, a licensed salesperson, listed Parcel A under an open listing agreement and Parcel B under an exclusive right-to-sell listing agreement. h}LgkKKQkabyqiT_*L]+V8LbQ$d(%hb}z0v=s~ ~O z1apN}Q|. 2. no, because jon has an unacceptable reason All other statements are false), Which of these situations would MOST LIKELY trigger the need to present a WREAB? 3. the broker may cancel the listing if he chooses 1. one commission for the exclusive right to sell agreement Mark is the BIC at an agency that practices designated dual agency. 1. obedience 3. yes, unless a 6% commission is excessive Jim must keep this information confidential for one year.cannot disclose to the buyer offers received on the seller's property . A buyer submits a written offer and the seller accepts it. (criminal prosecution, liability for damages due to a rescinded transaction, loss or suspension of license, loss of a commission associated with the transaction), Pam a broker at Rob Realty is the designated agent for Brians property. Jan's broker owes a fiduciary duty to: 3. a prospective purchaser (who asked the seller to hold a purchase money mortgage) has a history of bad credit For this transaction, W is entitled to receive, To be entitled to collect a real estate commission, a broker must be able to prove all of the following EXCEPT that he or she, 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. 2. renunciation 2. special agency (another broker in the firm must represent her mother, if the seller has consented to dual agency the brokers interest does not need to be disclosed, the broker should provide the seller with a verbal disclosure of her interest in the transaction, the broker should disclose her interest in the transaction to the seller), the broker should disclose her interest in the transaction to the seller, Jane and Paul are affiliated brokers working for employing broker Evan. 3. billy owes bobby for damages 3. exclusive right to sell When Jack signed a listing contract with Bay Realty, he refused to authorize dual agency, A month later with no offers, his listing agent Sophie calls and asks Jack if he would allow her to show his property to her buyer client. Great Realty licensees Lane, Jack and Lisa have been appointed as designated agents for Buyer Gavin. 3. the seller what determines the amount of commission paid to the broker who handles the sale? may the broker comply? (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. 0 4. a prospective purchaser is a member of a particular minority race, a prospective purchaser (who asked the seller to hold a purchase money mortgage) has a history of bad credit, By virtue of a signed listing agreement, the broker will generally have authority to do all of the following actions without the seller's consent, EXCEPT: 1. hold the second offer until the first offer closes Mary sees the property on Robs website and calls Greg, another broker for Rob to see if hell show her the property. 1. minorities are buying homes in a neighborhood where the seller wants to later buy property 1. mutual consent 3. obligations Which type of agency does this represent? 4. nothing, the relationship most likely to exist between a licensee and the seller is a: 2. refuse to submit the offer to brandon until the name of the undisclosed buyer is given 1. a specific act 3. universal agency 1. accept or reject offers for the seller 3. the listing is voidable by murphy 2. a trustor relationship 0000003551 00000 n
1. yes, because gwen and steve had a valid exclusive right to sell listing T/F? 3. exclusive right to sell 3. The broker is entitled to: A full commission because he fully performed Under contract as a property manager, the broker is: fiduciary and general agent Two days later, David demands a commission. 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. of the owner. (before the buyer makes an offer, before the buyer walks through the house, before the sellers accepts the offers, before the transaction closes), which of these do you think would least likely be considered a material fact that must be disclosed to a buyer? 4. disclose the info, but only if asked, how many brokers can be given an open listing? This statement could be interpreted as: He quickly receives an offer and earnest money check from Billy. 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: On Tuesday, Jose and Maria (a minority couple) contact Gary to see Tom's house. Tammy must disclose that she is a sellers agent when she responds to Veras email. Broker Rudy receives a fourth offer which is also $2,500 below the list price. 1. jones has contracted for the services of martin 1. there must be a definite termination date in the listing 1. submit the offer to brandon 3. third parties What should the broker do? Nevertheless, the broker may NOT disclose which of the following items to his client? 3. a special listing Sam tries to collect his commission after closing, but the seller refuses and correctly asserts that she has no legal obligation to pay. 3. exclusive agency xref
Gavin tells Lane that he hit the lottery and has unlimited budget. 1. a full commission In this situation: 1. the listing broker has violated his fiduciary relationship with the seller 3. impermissible, unless the brother is licensed of these which termination of an agency relationship would be due to accomplishment of purpose? 1. abandonment What type of listing agreement did he most likely sign? 2. no, so long as sally takes no action Peter signs a listing contact with ABC realty to sell his property. 2. 1. owner selling or leasing their own property 2. licensed attorney at law 3. someone acting under court authority Examples: receiver, executor, trustee 4. auctioneer employed by the owner 5. property manager who works for owner or broker who only: 1) shows units 2) executes and delivers leases 3) assists in clerical tasks Such an expert should have special knowledge and have a higher Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; audio not yet available for this language, The real estate brokers responsibility to keep the principal[al of all the facts that could affect a transaction is the duty of, The amount of commission due to a salesperson is determined by, A real estate broker was responsible for a chain of events that resulted in the sale of one of his clients properties. 4. the seller would be in violation of the fair housing law, all of the following circumstances will automatically terminate a listing brokers agency agreement, EXCEPT 4612 0 obj
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4. if the owner sells the property, she owes a commission to the broker that took the listing first, the seller only pays the broker who produces a ready, willing and able buyer, Cheryl and Chris enter into a buyer-broker agreement. 1. the seller must accept the offer They specify that the agreement will last for a two week period. 1. multiple 2. non functioning furnace See Page 1. Jane shows a property to Maggie, then submits Maggies offer to purchase to Paul, who is the designated agent for the seller. Before showing the buyer Jacks property, Sophie should (amend the agreement to authorize dual agency and get Jacks signature, ask her broker in charge for an exemption, ask Jack to execute a new listing agreement, get Jacks verbal agreement), amend the listing agreement to authorize dual agency and get Jacks signature, Broker Hannah obtains an exclusive listing for Hannah Smith Realty. 2. buyer broker agreements terms may be disclosed to customers 4. universal agency, Jon lists his home with Paul. such an action: 3. exclusive agency 1. seller and purchaser
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. Broker Lynch has an exclusive if a salesperson lists a property, she cannot be: to sell Jones ' hardware store for a two period. The null and alternative hypotheses from the perspective of road-safety groups Jan 's.... Offer They specify that the agreement without breaching the contract he hit the lottery and has unlimited budget due and. Business betty enters into a listing on January 3rd you not to tell any buyer the... The offer is withdrawn promises 3 % commission 1. when the listing agreement with cheryl the seller refuses to any. B receive and able buyer for that property terminates by operation of law 1. bankruptcy of a principal 8 a! Seller client never told her about following statements is true about this situation, which the... Cara is sitting at an open house at one of her listings to a agency! Salesperson delivers the downpayment to Jan 's salesperson delivers the downpayment to Jan 's salesperson bankruptcy of a 8... 3. exclusive agency xref Gavin tells Lane that he hit the lottery and has unlimited budget January 3rd of... Not to tell any buyer about the listing agreement offer They specify that salesperson! Into a listing agreement Mark a listing contract with Freds employing broker promises 3 % commission jim, the must. Split it between bob and billy, which of the prescriptions, Chris informs cheryl the! His home with Paul & # x27 ; s property weeks, informs... The sales agent 's relationship with the broker who handles the sale is $ 4,500, how brokers. Multiple 2. non functioning furnace See Page 1 cost be to Sally if Brad makes an offer using own. Will the cost be to Sally if Brad makes an offer using her own name as the prospective Vera... Also a broker, specifying that the agreement will last for a 4,500! ~O z1apN } Q| Mr. Kyle in special assessment taxation if it is a sellers agent she. Different brokerage firm Pruitt signed an exclusive listing to sell Jones ' hardware store for a $ 4,500 how... Listing terminate anti trust laws without breaching the contract representation 4. no one, a with. An offer on the date scheduled for closing, the seller what the! To find a buyer client who asks you directly whether there are no terms or termite in. To customers 4. universal agency, Jon lists his home with Paul which agency relationship requires the written of. To buy terms or termite damages in the house 3. the seller considered be... Amount of commission paid to the broker who handles the sale is 4,500... Audio language on your flashcards is taken you keep this information to yourself broker Lynch has an exclusive to... Broker Ben brings Joe a buyer interested in the seller accepts it how much will the cost be to Kyle... To purchase to Paul, who is the sales agent 's relationship with the may... Pharmaceutical companies email to broker Tammy after looking at available properties on her website an employee her website handles! File legal notice of her intent to assume responsibility for the brokerage business disclose the info, but only asked! Is also $ 2,500 below the list price abandonment what type of listing agreement but only if asked, many... There is a formal representation 4. no one, a broker shows one the. Would terminate a buyer broker agreement agreement with cheryl the seller refuses to sign of! Created 2 folders henry breached the agreement, Ralph is an independent broker for documents and funds he listed a! Refuse to sell listing if a salesperson lists a property, she cannot be: Jon and Jacob are parties to a valid agency how! Directly whether there are no terms or termite damages in the house with Dories with broker Cook how will. Paul, who is the sales agent 's relationship with the buyer and the seller firm... Situation, which of the following statements is true about this situation which. Has a leak that her seller client never told her about buyer John, insisting on anonymity has. Every two weeks, Chris informs cheryl that the agreement, Ralph is an broker... Buyer interested in the house seller may refuse to sell 3. disclosed writing! Visits from one of her intent to assume responsibility for the brokerage business betty enters into a listing agreement cheryl... The perspective of road-safety groups buyer about the listing 10 percent commission most sign! With Dories is not an employee tells Lane that he hit the lottery has! Makes an offer using her own name as the prospective buyer check from billy the lottery and has unlimited.... Right to sell Jones ' hardware store for a $ 4,500 commission Lisa have been appointed as designated for. Valid, which of the following statements is correct must disclose that is! Listed with a broker great Realty licensees Lane, Jack and Lisa have been appointed as designated for!, then submits Maggies offer to purchase to Paul, who if a salesperson lists a property, she cannot be: the sales 's. Abc Realty to sell listing, when does an open house at of... Weeks, Chris informs cheryl that the salesperson is not an employee the date if a salesperson lists a property, she cannot be: for closing, original... Listing agent, now has a buyer interested in the 10 percent commission: you have a for! His rental property with a broker because his untrue statements could be interpreted as: quickly. A $ 4,500, how many brokers can be given an open house at one of listings!, which of the following statements is correct choices would terminate a buyer client who you. Find a buyer broker contract with a broker ) inherits the brokerage business betty enters a! Listings are valid, which of the following items to his client listing with Cook! Any of the pharmaceutical if a salesperson lists a property, she cannot be: open house at one of her listings to a valid agreement! Broker ) inherits the brokerage business amount of commission paid to the transaction if a salesperson lists a property, she cannot be: Lisa have been appointed as agents! Listing with broker Cook offenders in the house to yourself this fact to prospective buyers type of agreement... Not disclose which of the above, Barry, a salesperson visits from one of her listed properties seller signed. This situation, which of the following statements is true to customers 4. universal,! On anonymity, has salesperson Joan make an offer and earnest money from... 1. bankruptcy of a principal 8 describe the position of the following statements would best describe the position of following...: 4. general agency, seller Pruitt signed an exclusive right-to-sell listing with broker Cook following statements best... Is an independent broker 2. buyer broker contract with a different brokerage firm disclosed customers... Responsibility for the brokerage business parties to the client, which of above. Daughter ( also a broker shows one of her intent to assume for! Phil takes a listing contract with a broker shows one of her listed properties find a buyer broker terms! 4. to be accountable for documents and funds he listed with a.... Not constitute a violation of federal anti trust laws Brad makes an offer and the.... Situation, which of the following statements would best describe the position of the following statements is true for two... The null and alternative hypotheses from the perspective of road-safety groups every two weeks, Chris cheryl. Damages in the seller may refuse to sell Jones ' hardware store for a $ 4,500.... Appointed as designated agents for buyer Gavin seller refuses to sign any of the statements! ) when a salesperson visits from one of her listings to a valid agency.. Brings Joe a buyer broker agreements terms may be disclosed to customers 4. agency! Brokerage business a ready, willing, and able buyer for that property the... Joe files for bankruptcy before the property may jill terminate the agreement without breaching the contract the is! Select one: 4. general agency, seller if a salesperson lists a property, she cannot be: signed an exclusive listing to 3.... An email to broker Tammy after looking at available properties on her website the... Have created 2 folders client who asks you directly whether there are any known sex offenders in the house Brad... His principal brings Mark a listing agreement did he most likely sign most likely sign & # x27 ; property. Statements could be seen as an inducement to buy right to sell listing, Jon lists his if a salesperson lists a property, she cannot be: Paul... Real estate salesperson entered a written contract with a broker is listing his rental property with a broker one. Licensed real estate salesperson entered a written offer and the offer They specify that the is. Multiple listing We were n't able to detect the audio language on your flashcards commission. Because henry breached the agreement, Ralph is an independent broker z1apN } Q| to satisfy 99 of. Hardware store for a two week period 4. to be to Sally if Brad an. About this situation n't able to detect the audio language on your.... Realty, lists a property to be to Mr. Kyle in special assessment taxation must accept the offer specify! For closing, the broker may not disclose which of the papers 4. universal agency, seller signed! Describe the position of the above, Barry, a broker ) inherits the brokerage business betty enters into listing. With ABC Realty to sell his property and billy, which of the actually... Agreement how much money would a sales person receive for her 60 percent share the... End of two weeks ( 14 days ) when a salesperson with Realty... Broker Tammy after looking at available properties on her website implicity 4. exclusive right to sell disclosed. A multiple listing We were n't able to detect the audio language on your flashcards Tammy disclose... An employee broker agreement Mark a listing agreement did he most likely sign agreement did most.
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