B. Broker Millie. A. find a third, impartial board to hold their hearing. Jona is requesting arbitration because he feels Wally unfairly went into contract with his client. both parties consent in writing to the dual agency. The agents fiduciary relationship of trust and confidence with the principal means that the broker owes the principal certain specific duties. If in a week, you are still thinking about a new agent, Id be happy to talk to you about how I would go about selling your house. A. Loretta may insist that all buyers and sellers use the auxiliary services provided by her company. ____ agency occurs when an agent acts for two or more different principals in the same transaction. Broker Joann admits she was an exclusive buyer agent for her client and knew the compensation offering before showing the house. A. A REALTOR may tell prospective clients not to list with REALTORS offering flat-rate commissions. 96. This offer is accepted, contingent upon the buyer obtaining financing and a satisfactory home inspection. 11. Sign it in a few clicks Draw your signature, type it, upload its image, or use your mobile device as a signature pad. Which of the following is TRUE about the difference between a special agent and a general agent? 103. They ask their buying agent, REALTOR Larry, about the racial composition of a neighborhood they are considering. Advertisements on the Internet require whether the worker is paid by way of direct deposit or check. Jean asks Mike his opinion about the structure of the property. This is an example of Oxford University Press | Online Resource Centre | Multiple choice REALTOR Antonio has a buyer agency contract, which entitles him to collect a fee. Broker Deb admits that she extended an offer of cooperation and compensation to Broker Steve. D) It appears that REALTOR Tom may have 83. common law. Multiple Choice The dual agency is permissible so long as both parties are fully informed as to the dual role of the agent and consent. 24. B. Loretta needs to say nothing about these businesses or services; it is obvious she owns them. 43. C. Olivia may ask her REALTOR principal to request arbitration but she may not request arbitration on her own. No. casual statement - a licensee might unwittingly become a consumer's agent. B. not a violation of the Code as REALTOR Terry doesnt know any agents in Hawaii. Is this a violation of the Code? C. The buyer refused to negotiate with the broker. care and skill in performance. Refer to the income statements in (1) above. The structure does not seem sound and I would not purchase this house. A seller can sell his or her own home and owe no commission if he or she signs an exclusive agency listing. C. fraud. amend the listing agreement to authorize dual agency and get Jacks signature Broker Hannah obtains an exclusive listing for Hannah Smith Realty. A. accounting for any deposit monies she receives from him, which are put into a separate account The relationship between real estate broker and seller is generally what type of agency? The first thing Sam should do is Lets not worry about that todaylets wait until we sell your house, then well figure it out. A seller, anxious to sell, listed a home for $190,000 and signed an agency agreement with a broker who then told a buyer to submit a low offer. A. not timely disclosure per the requirements of the Code. C. Nan sold a house to Bob last year. D) is the correct answer to the question. b. agent. Marty later writes a contract and a sale is made. This is C) Broker Paul later brings a sales agreement on the property from one of the attendees of the open house. C. A REALTOR may not file an ethics complaint at the same time she files a request for arbitration. C. demand that Sherry split the commission with Vinod. D) Jean asks Mike his opinion about the structure of the property. a federal registry of residential information on sex offenders. B) D) D) Solved Which of the following is true regarding a dual - Chegg Commingling and conversion A real estate professional's duties to a customer do NOT include Jon does not ask Halie if she has an exclusive agreement with Grant; instead, he tells her if she wants to buy the house, she needs to enter into an exclusive agreement with him. Lets not worry about that todaylets wait until we sell your house, then well figure it out. D. weed out offers that seem unreasonable to keep Trisha from wasting her time. Her letter offers both her property management services and her brokerage services. Subsequently, he calls her several times a week, sends her e-mails, and mails a packet of additional information. Unit quiz 10 Flashcards by Ron Jeremy | Brainscape A. Nan did not sign a contract with Bob. A. appeals complaints. Conflict of interest is inherent in a dual agency arrangement. Nelson informs Matthew of the rejection, and Matthew believes Jennifer did not understand the details of the contract. C. may not arbitrate as he does not belong to the local association. A. Loretta may insist that all buyers and sellers use the auxiliary services provided by her company. C. large, four-bedroom on a quiet cul-de-sac lot D. the same as if Roger had found the buyer independently and shown the property by appointment; it favors Roger. REALTOR Nelson has an exclusive listing contract with seller Jennifer. A. abandonment of John by Broker Judy. Dual Agency and Transaction Brokerage Flashcards | Quizlet A licensee must be a REALTOR to sell real estate in most states. Which of the following is not a listing agreement typically used in California? C. merely a mention and does not favor Broker Andrew. Chad is a customer of Marcys. REALTOR John, who is also an appraiser, periodically sends letters to past clients asking if they need a current valuation of their property. Because the property is being sold "as is," Which of the following is correct? The next day, Howard calls Owen and tells him that he would like to make an offer on the house. D. Melanie should not solicit a buyer agreement with these buyers. She negotiates the offer with buyer Dan, who offered less than asking price. A. Questions Only A) REALTOR Barbara holds an open house on a rainy day and discovers the seal for the back door is leaking. B. ethical, because this is considered a general announcement. Morton Companys contribution format income statement for last month is given below: Sales(15,000unitsX$30perunit)$450,000Variableexpenses315,000Contributionmargin135,000Fixedexpenses90,000Netoperatingincome$45,000\begin{array}{lrr} Which statement is TRUE of a real estate broker acting as the agent of the seller? His boss is Bud, whose wife is Broker Nan. b. innocent D. set up an appointment with the title company. general agency stagnant properties. The relationship between the agent and the seller ends automatically if the purchaser submits an offer. REALTOR Tamika notices a home in her market area that has one of listing agents Alonzos signs, but she cant find the listing for it in the MLS. The agent tells a buyer the seller will accept up to $5,000 less than the list price. B. 67. When, how and to whom agents must reveal for whom they provide client based services. 116. \text{Electronics}&\text{\$\hspace{1pt}40,000,000}&\text{\$\hspace{1pt}2,880,000}&\text{\$\hspace{1pt}16,000,000}\\ REALTOR Kim can Walt Disney Company wants to open a new theme park in Chicago but first needs to acquire land for the park. If Jackie Knox, who owns property in Chicago, agrees to sell the needed land for $1.5 million and the agent signs his name "Saul Arnold, agent for Walt Disney", _____. B. each state association of REALTORS. Which of the following statements about dual agency is false? Agents are generally allowed to self-deal with the principal, especially if the self-dealing is undisclosed. C. No, I have no experience selling commercial properties so it is illegal for me to do it. if the buyer's inspector finds a problem, the seller does not have to disclose. C) implied agency Which statement is correct? Several months go by without contact between Paul and Rhonda, and then Broker Steve introduces the property to Rhonda again. The best solution available to Tim is to B. Howard is Owens customer. D) any relevant state laws. A) C. avoid the subject of the back door and if it comes up, lie No, Tamika is permitted to call Alonzo to get the information she needs. C. Yes. the desire of a potential buyer or tenant to know the information. REALTOR Donna has a property exclusively listed and shows it to buyer Dan, who wants to make an offer. Jennifer rejects the offer. D. Broker Steve. a nonagency. B) C) 120. It is legal in all states. D) Do you agree with the marketing managers proposal? B) Disney employs Saul Arnold as an agent to work on its behalf to acquire the needed property. 139. Share your form with others Send it via email, link, or fax. C) avoid conflicts of interest. D) the seller and the buyer are represented by different companies. REALTOR Dee files an arbitration request and is able to prove she is the procuring cause of the sale. B. premisesthe D. Joe should not talk to Ralph until after the hearing. A. Howard is Owens client. B) Recently, Erin was the buyers agent for Jones, who purchased a new home. REALTOR Smitty has an exclusive listing on seller Teds house. D) C. Olivia may ask her REALTOR principal to request arbitration but she may not request arbitration on her own. D. required by state law to be followed by all licensees. A. Olivia can take no action since Jon is the principal broker at his agency; his title gives him seniority in this situation. C. panic selling. Eddie suggests taking the matter to arbitration. No, because of the right of free speech, Brad can call Ted any time he wants regarding any offers. D. not call the sellers; REALTOR Linda has told her everything she needs to know. C. Yes, because REALTORS are not permitted to use county records for such purposes. At this point, what kind of relationship do Howard and Owen have? D. telling him the lowest price Derek will take for the house, which Derek told her in confidence.
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