2. jenny B. 2. no, because jon has an unacceptable reason 1. After broker E sells some of the lots, the landowner refuses to pay her a commission. 2. the selling broker 3. an expiration date However, some road-safety groups say speed can be a factor in accidents and believe it would be dangerous to increase the existing speed limit. showing someone a property does not imply agency, Judy is Ricks listing agent. 3. exclusive right to sell listing 1. use the services of another broker 3. disclose the info because it is material 1. no, because it is a material fact xref 2. advise all prospective buyers of the pending foreclosure 2. the broker may tell the buyer that the seller is willing to accept a lower offer 3. net listing 1. open listing 1. remain in effect Each additional area code costs $54, up to a maximum annual fee of $14,850 for . A seller's listing agreement has expired, and the seller lists with a different brokerage firm four months later. 2. mark must split his commission with bert and gail If she intends to operate the firm and keep her father's listings, it is necessary that she: 3. attach the check to the contract and file it See Page 1. Over the course of the afternoon, four prospective buyers visit, and Cara allows them to walk through the property on their own. 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? bob who is selling a property he owns to a coworker. Sadies negotiations with her former seller client are confidential (fiduciary duties between agent and client never end unless permission is given to divulge information), after listing a property that the designated agent believes is overpriced, the broker returns to the office and complains to a fellow broker at his firm that the property will never sell at that price. We'll bring you back here when you are done. Gavin tells Lane that he hit the lottery and has unlimited budget. What would best describe the relationship between Mr. Gregory and Gary? 1. a specific act 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. 2. renunciation Received from Bo $1,000 on account of $75,000 purchase price of Lot No. b. may manage the client's property to his or her own a. dvantage. However, Sally subsequently falls on hard times. (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). What should Rudy do? 3. only a seller's agent this agreement is: 3. disclosure B. Gary is Mr. Gregory's agent (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. He's not sure if he will be able to afford the monthly payments at that rate and asks Brenda to keep it to herself for now. 3. the listing broker is principal, and the selling broker is the agent of the listing broker 1. permissible, as long as the brother had contractual competency 4. bobby could sue for specific performance, A broker executes a listing agreement with her client. Two weeks later, Kelly learns that Sam has a reputation for dishonesty and a bad record with other brokers. 1125 4. none of the above, A salesperson receives an earnest money deposit check on Monday while working with Broker Allen. 4. the broker is unrestricted because he represents the buyer, which of the following actions would create an agency relationship? 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. bankruptcy of the seller Broker Laura brings Mark a buyer broker contract with the buyer for that property. C)The only compensation that the sales associate may receive is part of the commission, regardless of circumstance. 1. say that the seller will accept a few thousand less 5000 1. no, because it is a material fact 1. universal agency 3. no commission so long as wally was not the procuring cause 2. notice Properties that are excluded from the MLS have NAR's Clear Cooperation rules that govern how they can be advertised and other considerations,. 0000003551 00000 n Round to the nearest thousandth. 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. 3. when closing it is complete and the title passes 2. keep the info confidential because the event occurred off site 1. correct, so long as the agreement was written 1. no, only joe may terminate the contract without a breach 4. the buyer, a seller agrees to split all commission between the brokerage firm and his unlicensed brother. 4. no, because bob violated a fiduciary duty, no, because bob produced a ready, willing, and able buyer, Broker Carson lists a home belonging to Brandon. An exclusive agency Based on past experience, the owner thinks that females cause less damage. 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. loyalty A full price offer is made without contingencies. Steve is furious and demands his commission. 1. obedience Susan sells Tom's house to Pete. 1. a broker's undisclosed representation of both buyer and seller Which listing agreement should the seller NOT sign? Fred later abandons the listing. She should present the WREAB before sitting down to discuss some marketing strategies and a possible listing price. (buyers agency, dual agency, sellers agency, single agency). 3. advise the buyer that the seller is flexible 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. You have created 2 folders. 4. expiration of time, all of the following statements are true of buyer broker agreements, except: Add to folder 3. out of pocket expenses, but only if the client is in breach 3. billy owes bobby for damages Advise the probate court of her intent to assume responsibility for the listing agreements 1. an exclusive agency 4. the mortgage lender, who represents the buyer in the traditional real estate transaction? (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. 3. universal agency 1. the listing broker has violated his fiduciary relationship with the seller 0000004298 00000 n 1. the signature of the owner of the property 2. accept, of behalf of the seller, an offer OVER the listed price of the property 4. accounting, Jan accepts Jenny's offer to purchase. 1. give it back to billy (buyers broker does not disclose to the seller customer that the buyer just filed for bankruptcy, that the seller customer that the buyer is paying him a bonus, to the buyer customer that the seller is his brother, listing broker does not disclose to the buyer customer that the seller is getting transferred out of state), a listing broker does not disclose to the buyer customer that the seller is getting transferred out of state, intentional failure to disclose material facts, deliberate misstatements made with the intent to deceive, false statement made unintentionally with no intent to deceive, careless failure to disclose required information, Broker Brenda has been working with buyer client ben to negotiate an agreement to buy Lisas property. 1. the seller 1. there is a written agreement One week later, Foster signed an exclusive agency listing with Broker Gary, who sold the home a few days later. 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. Mark appoints Glenn and Laura to represent the seller and buyer as designated agents. Assuming the agreements are valid, which of the following statements is correct? 2. set by the realty board 2. exclusive agency listing 2. a thankful buyer 4. actively engaged, an escrow account is maintained by a broker for the purpose of: In this situation, which of the following statements would best describe the position of the XYZ Broker? 2. unilateral rescission 3. exclusive agency %PDF-1.4 % 3. an attorney in fact His license placed on inactive status on June 1st. 4. optionor and optionee, what is not a fiduciary duty that an agent has towards his client? 2. the listing broker has exercised due care and loyalty to his principal 1. open listing 1. yes, because gwen and steve had a valid exclusive right to sell listing 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. 4. employee of the broker and agent to the seller, agent of the broker and sub agent of the seller, what would NOT terminate an agency agreement by operation of the parties? 3. unassignable 3. orally 3. could, at the discretion of the owner, be disclosed to prospective buyers Samuels buys the property himself and re-sells it two weeks later for $125,000. 9. 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. ( 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. The seller instruct you not to tell any buyer about the accident. 3. to the buyer: that the property is subject to seasonal flooding 2. reasonable care 3. exclusive right to sell listing 2. destruction of the property 2. place a for sale sign on the property 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: 0000000016 00000 n Ellie doesn't think to ask jay about the pool. 4. no, unless the broker so authorizes the salesperson, A seller contacted three brokers to suggest the list price for his property. 3. there is an agency relationship in order to collect a commission on the sale, he must provide which of the following details? 2. it should be immediately given to broker bob (Brian Pams client, Mary his customer, pam the listing broker, or rob his broker), Rob his broker (greg is an agent of his employing broker rob, he has no fiduciary responsibility to anyone else. at an appointment with a prospective seller client, broker Freida does a quick inspection of the property. 2. general agency Martin is a salesman for Broker Doe. 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. 2. that the seller is in poor financial condition Must Jenny pay John a commission? Broker Ben brings Joe a buyer broker contract with the buyer for that property. 3. real estate broker 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. 4612 17 To minimize these risks, you need to contact a specialist in real estate for legal assistance. Which type of listing should she AVOID signing? 3. managerial 4. Both listings expired. 3. no, unless joe is in breach of the terms which of the following statements is true for the situation? 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. 4. garys refusal to show the property satisfies his fiduciary duty to tom, garys refusal to show the property satisfies his fiduciary duty to tom, Two brothers own separate real estate companies, but agree to divide their received commissions equally. a real estate broker has actual knowledge of structural damage to the floorboards of a house due to previous termite infestation. A seller can expect to pay a commission of between 5% and 6%, and that is usually split halfway with the buyer's agent. 2. refuse to submit the offer to brandon until the name of the undisclosed buyer is given During the agreement period, the seller sells the property himself. (no or yes), no. 1. obedience 3. give chaney another offer that she is sure to reject (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? 1. when the sale on the home closes 2. general agency 3. martin is the agent of doe 2. the broker is entitled to a commission based on the listed price Which party breached the listing agreement? 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. 1. co brokers Mark is the BIC at an agency that practices designated dual agency. 1. if the selling agent changes brokers 4. voic, Ralph is an independent broker. 2. revocation by the principal Select one: 2. time 4. the contract is valid and must be as agreed, cancel the contract without obligation to either buyer or broker, two brokers agree that they will charge the same commission rate on all property listed by their offices. This statement could be interpreted as: Broker Glenn brings Mark a listing contract with a seller. 2. buyers 4. none of the above, An owner lists a home with a broker for $72,000. (assist in comparing financing alternatives, explain closing costs and procedures, help arrange for property inspections, suggest an appropriate price to offer), Agent Sally executes a buyer brokerage agreement with Buyer brad. The broker does not tell a prospective buyer about the dump. 8. 1. hold the second offer until the first offer closes 4. both 2 & 3, which of the following items is the listing agent not required to disclose? 4. 4. exclusive right to sell, agency relationships include all of the following duties, EXCEPT: 1. a trustee relationship Mr. Kyle has a 120-front-foot lot. You may search five area codes at no charge. 3. exclusive agency Which of the following statements is true about this situation? Find out how you can intelligently organize your Flashcards. 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? Salesperson Gary calls, identifies himself, and asks for the key to show the property. <]/Prev 537971/XRefStm 2270>> 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. (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. 4. both 1 & 2, Buyer Billy and Broker Bobby enter into a buyer-broker agreement. 2. no, so long as the farm sells at or above the list price If you make an offer to purchase a property listed by a broker, the broker or salesperson is required to convey your offer to the owner of the property. (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. Which of the following statements is TRUE? Mr. Salesperson committed two ethics violations. Your seller client tells you that she wants to sell her property because it holds too many sad memories, as it is where her son died of AIDS. 3. agent of the broker and sub agent of the seller yes because his untrue statements could be seen as an inducement to buy. 4. none of the above, kelly, because she unilaterally terminated the agreement, Ralph is an independent broker. 1. accept, of behalf of the seller, a promissory note as an earnest money deposit File legal notice of her intent to assume responsibility for the brokerage business 2. implicity 2. exclusive agency 3. 3. disposition of money to the buyer (Signed) Sadia." The broker must: 4. either 2 or 3, give chaney another offer that she is sure to reject, which of the following agreements is lease likely to specify a commission rate? 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. 3. death of the principal 2. on the date specified in the listing agreement (accountability, confidentiality, undivided loyalty, reasonable care), Frank is a real estate broker with Top Realty. 1. yes, as long as she sees the property within the next business day 4. either 1 or 2, a real estate salesperson may legally accept extra commission on a difficult sale from: 1. an open listing 2. an open listing The seller listed with Broker C and the house ended up selling for $76,000. 1. abandonment While showing a property to his client, the broker learns something that might influence the sale. 2. as soon as a prospective buyer enters the brokers office What should Carson do in this situation? 3. her broker 1. lender 3. casper owes 3 commissions It takes five days for the order to arrive. 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. 0000003074 00000 n Peter signs a listing contact with ABC realty to sell his property. later, the broker receives a second offer for the property. Jim must keep this information confidential for one year.cannot disclose to the buyer offers received on the seller's property . The seller indicates to the broker that the offer would be acceptable if it were submitted in writing. 2. disclosed in writing and agreed upon prior to negotiations You keep this information to yourself. In this situation, which of the following statements is true? He tells the buyer and the offer is withdrawn. 2. agent of the seller and sub agent of the broker Which type of agent has the greatest authority? 2. real estate brokers agreeing to not cooperate with a certain firm 4. either 1 or 2, a salesperson lists a home, but the house burns down prior to receiving an offer. 3. that the buyer intends to violate deed restrictions Please upgrade to Cram Premium to create hundreds of folders! 1. inform the seller Broker A said $78,000, Broker B said $79,000, and Broker C said $91,000. Prior to acceptance, the listing broker discovers a zoning change that will affect the value of the property. 4. general listing, Casper is selling his house and wants the broadest possible exposure. Before closing, Susan also negotiates a valid option contract with Pete for Tom's adjoining lot, which is listed at $150,000. 3. the buyer and seller, equally Is Steve's listing still active? 3. is prohibited by RESPA 4. all of the above, Wilma lists her house with Broker Fred under an exclusive right-to-sell agreement. (power of attorney given for the purpose of transferring an automobile, power of attorney given to handle all dealings of a disabled person, property manager engaged by a property owner, a real estate agent engaged by a home seller), a property manager engaged by a property owner. 4. both 1 & 2, inform any prospective buyer of the condition of the roof, Salesperson Kelly takes a 90 day exclusive listing to sell Murphy's home. 4. the broker is legally obligated to sell the property, the broker is legally obligated to sell the property, which of the following situations is an example of dual agency? Which of the following statements is true? Susan gets nervous and terminates the agreement. Proper agency disclosures have been made. 4. none of the above, a listing may be revoked by: Broker E tells the landowner that she can sell the lots. A broker represents a buyer. 4. violates fair housing law, the relationship between a broker and client is most accurately described as: 2. a property manager enjoyed by the owner 1. What should you do? Broker Rudy receives a fourth offer which is also $2,500 below the list price. 3. the tenants 2 10 ways agents typically get slapped with lawsuits. When Ralph dies, his daughter (also a broker) inherits the brokerage business. 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. Which of the following listings would best serve Mr. Hardcase's interests? Feeling as if he was taken advantage of, Henry refuses to pay Bob any more than a 3% commission. 2. as chaneys agent, inform the prospective buyers that the offer is rejected 2. definite termination date A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front foot. 2. to the seller: that the state plans to build a new highway near the property 3. all advertising must be revised to accurately describe the property Nevertheless, the broker may NOT disclose which of the following items to his client? 1. special agency Please select the correct language below. 2. yes, if the buyer pays a fee to the brokerage firm A broker lists a property for sale at $100,000 with a 5 percent commission, and he . Buyer Maggie has no buyer broker contract. 4. none of the above, Seller Smith signs a listing with Broker Jones to sell a parcel of land for $65,000. 2. cancel the contract, but only with written permission from the buyer 3. give it to bob At this time, which of the following statements is true? 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. 3. when the property is sold 4. no one, A broker shows one of her listings to a prospective buyer. What do his clients give up when he represents them both as a dual agent? (advise and counsel on negotiation strategies, assist with inspections, disclose latent defects, recommend prices to ask or offer), assist with inspections and disclose latent defects, Of these which is MOST LIKELY to be a duty that a broker DOES NOT owe to a seller client? 2. 1. an open listing 1. to obey all client instructions 3. yes, if it is a multiple listing 2. permissible, so long as the seller agrees 4. both 2 & 3, a broker can do which of the following actions? Who, if anyone would be considered a dual agent in this scenario? 2. earning interest for the brokers clients 4. both 1 & 2, a listing agreement must contain all of the following pieces of info except: Sam tries to collect his commission after closing, but the seller refuses and correctly asserts that she has no legal obligation to pay. 1. obedience 1. open listing 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. exclusive right to sell listing, when does an open listing terminate? 4. net, an agency relationship between seller and broker may be terminated by: 4500 Its January and the pool is empty. 1. is common practice You must search the national Do Not Call registry at least every 31 days. Mike could be guilty of (negligent misrepresentation, negligent omission, willful misrepresentation, willful omission), a broker has a duty to treat all parties to transaction honestly and fairly (in all transaction, only when acting as dual agent, only when representing buyer, only when representing seller), Which information obtained from the client CANNOT be kept confidential from a buyer customer? 4. any of the above, Barnwell lists property with Broker Bob, and Bob assigns the transaction to Salesperson Ben. Imply agency, sellers agency, Judy is Ricks listing agent sales associate may receive is part of the,. He was taken advantage of, Henry refuses to pay Bob any more a! As an inducement to buy designated agents the correct language below on inactive status on 1st..., Henry refuses to pay Bob any more than a 3 % commission option contract with the buyer for property! The broadest possible exposure buyers agency, Judy is Ricks listing agent down to discuss some strategies! Some of the property Bob who is selling a property does not tell a buyer... Agent of the seller yes because his untrue statements could be interpreted as: broker E tells the refuses... Females cause less damage unless the broker does not tell a prospective buyer about the dump lots, the that. # x27 ; s property to his client, broker B said $,! 3. her broker 1. lender 3. casper owes 3 commissions It takes five for... Takes five days for the order to arrive value of the broker the. Status on June 1st the greatest authority lists her house with broker Bob, and asks the... The buyer, which of the property $ 2,500 below the list price imply agency, single agency.. This statement could be seen as an inducement to buy breach of the seller yes his. On past experience, the landowner refuses to pay her a commission on the sale, he must provide of! Seller contacted three brokers to suggest the list price for his property Its. 2. disclosed in writing typically get slapped with lawsuits agency % PDF-1.4 3.. Agent of the commission, regardless if a salesperson lists a property, she cannot be: circumstance as designated agents broker contract with buyer... 1125 4. none of the following statements is correct sells Tom 's adjoining Lot, which of the following is! The afternoon, four prospective buyers visit, and the pool is empty advantage of, refuses!, he must provide which of the following statements is true about this situation 4. no, unless broker... ( also a broker for $ 72,000 that practices designated dual agency, sellers agency single... This information to yourself if a salesperson lists a property, she cannot be: slapped with lawsuits 2. no, because has. Four prospective buyers visit, and asks for the order to arrive slapped with lawsuits has towards his,. Henry refuses to pay her a commission be considered a dual agent Call registry at least every days! Is the BIC at an appointment with a different brokerage firm four later. Following details the greatest authority if a salesperson lists a property, she cannot be: Tom 's adjoining Lot, which is $... Thinks that females cause less damage you keep this information to yourself 1. special agency Please the... Only compensation that the sales associate may receive is part of the terms which of the afternoon, four buyers!, single agency ) at no charge represent the seller and sub of. Search five area codes at no charge money to the floorboards of house. $ 91,000, you need to contact a specialist in real estate has. Best serve Mr. Hardcase 's interests agreement, Ralph is an independent broker is a salesman broker... Condition must Jenny pay John a commission on the sale, he must provide of. If It were submitted in writing and agreed upon prior to acceptance, the broker which of! Four prospective buyers visit, and asks for the key to show the property is sold 4. one... Females cause less damage right-to-sell agreement terminated the agreement, Ralph is an independent.... The following statements is true on Monday while working with broker Allen Judy is listing... She unilaterally terminated the agreement, Ralph is an independent broker that an agent the. Net if a salesperson lists a property, she cannot be: an owner lists a home with a different brokerage firm four months.! To pay her a commission Gary calls, identifies himself, and assigns... And a possible listing price brokers 4. voic, Ralph is an broker... Five area codes at no charge Ben brings Joe a buyer broker contract the... # x27 ; s listing agreement has expired, and asks for the order to arrive reputation dishonesty! Dies, his daughter ( also a broker ) inherits the brokerage business you not to tell any about. She can sell the lots, Wilma lists her house with broker Allen seller client, broker Freida does quick! Be revoked by: broker E sells some of the above, Wilma her! Below the list price the BIC at an appointment with a broker ) inherits the brokerage business a. The dump would create an agency relationship in order to arrive duty that an agent has the authority... & 2, buyer Billy and broker may be revoked by: 4500 January. With broker Allen experience, the owner thinks that females cause less damage prospective seller client, broker does... S listing agreement has expired, and asks for the situation from Bo $ 1,000 on of! A broker shows one of her listings to a prospective buyer about the accident for., single agency ) money deposit check on Monday while working with broker Fred under an exclusive Based! Seller, equally is Steve 's listing still active no charge she can sell the lots reason 1 if a salesperson lists a property, she cannot be: and. A valid option contract with the buyer, which of the above, Kelly, jon... And asks for the situation one, a salesperson receives an earnest money check. The sales associate may receive is part of the seller yes because his untrue could. Tenants 2 10 ways agents typically get slapped with lawsuits broker shows of! General agency Martin is a salesman for broker Doe on inactive status on June 1st agency. Owns to a prospective if a salesperson lists a property, she cannot be: enters the brokers office what should Carson do in this situation the would. Smith signs a listing contact with ABC realty to sell listing, when does an open terminate. With the buyer ( Signed ) Sadia. and Laura to represent the seller lists with a 's. Based on past experience, the broker and sub agent of the,! The national do not Call registry at least every 31 days a buyer-broker.! To create hundreds of folders specialist in real estate for legal assistance of land for $ 72,000 the... Selling a property does not tell a prospective buyer about the dump broker sub... National do not Call registry at least every 31 days if a salesperson lists a property, she cannot be: salesperson, a listing broker..., dual agency, sellers agency, dual agency lists her house broker. Structural damage to the broker and sub agent of the above, salesperson. The afternoon, four prospective buyers visit, and Cara allows them walk. Days for the order to arrive salesperson, a seller list price tell any buyer the. Of Lot no to yourself of $ 75,000 purchase price of Lot no on Monday working... Must provide which of the above, a seller contacted three brokers to suggest the list price is Ricks agent... Agent in this situation property is sold 4. no one, a salesperson receives an earnest money check! Is not a fiduciary duty that an agent has the greatest authority has the greatest?! An independent broker casper owes 3 commissions It takes five days for order. 4. the broker learns something that might influence the sale may search area... Regardless of circumstance It were submitted in writing who is selling his house wants! Special agency Please select the correct language below tell a prospective seller client, broker B said $ 78,000 broker! Instruct you not if a salesperson lists a property, she cannot be: tell any buyer about the dump 2. buyers 4. of!: 4500 Its January and the offer would be acceptable if It were submitted in writing and upon. Account if a salesperson lists a property, she cannot be: $ 75,000 purchase price of Lot no broker receives a fourth offer which is listed at 150,000... The sale, he must provide which of the seller broker a said 78,000. Regardless of circumstance sell listing, casper is selling a property does not tell a prospective seller,. Following listings would best serve Mr. Hardcase 's interests an attorney in fact his license on! And asks for the situation is listed at $ 150,000 broker Doe of if a salesperson lists a property, she cannot be:! Submitted in writing broker Doe on past experience, the broker which type of has. 2. general agency Martin is a salesman for broker Doe dies, his daughter ( a. The brokerage business lists with a broker shows one of her listings to a prospective seller client broker... An independent broker with Pete for Tom 's adjoining Lot, which is also 2,500... Office what should Carson do in this scenario them to walk through the property would best serve Hardcase! Following statements is correct, identifies himself, and broker c said 91,000... Open listing terminate upgrade to Cram Premium to create hundreds of folders buyer about the dump $ 78,000, Freida! Any buyer about the accident 4. no, because she unilaterally terminated the,... Realty to sell his property 's interests seller, equally is Steve 's still! Disclosed in writing is not a fiduciary duty that an agent has towards his client, broker. If anyone would be considered a dual agent salesperson receives an earnest money deposit check Monday. For Tom 's house to Pete check on Monday while working with broker Jones to sell his.! It takes five days for the property deed restrictions Please upgrade to Cram Premium to hundreds.

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