1. a broker's undisclosed representation of both buyer and seller 2. the local bar association 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. 3. real estate broker (the area in which the buyer wants to look, the maximum mortgage amount the buyer can afford, the name of the buyers dog, the style of house the buyer prefers), the maximum mortgage amount the buyer can afford. The seller indicates to the broker that the offer would be acceptable if it were submitted in writing. 2. wilma may terminate the listing 1. lender if you take the listing, you should assure the sellers that you will not disclose this information, who is obligated to complete a residential property owners association disclosure statement? 2. renunciation of the agreement by the broker 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. 1. a real estate salesperson handling referrals only 3. a person working for a multiple listing service Prior to acceptance, the listing broker discovers a zoning change that will affect the value of the property. Herb buyer client Jim is interested in Ricks property. 3. yes, because it is contrary to corcoran's interest 9500 4. general agency, Seller Pruitt signed an exclusive right-to-sell listing with Broker Cook. 0000002270 00000 n all of the following persons may act as escrow agents except: A buyer's broker presents an offer for property listed by another broker. 4. none of the above, who is an intermediary between a buyer and a seller? A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front foot. 1. a principal 1. reject the offer in accordance with his duty of due diligence 2. renunciation 1. the general public 3. is prohibited by RESPA 4. the broker is unrestricted because he represents the buyer, which of the following actions would create an agency relationship? 4. expiration of time, all of the following statements are true of buyer broker agreements, except: Peter signs a listing contact with ABC realty to sell his property. 2. a trustor relationship 2. yes, because she is legally justified 3. lenders charging usurious interest rates 4. both 1 & 2, Buyer Billy and Broker Bobby enter into a buyer-broker agreement. After much hard work, it looks as if the property will finally sell. You may search five area codes at no charge. 2. to use care in completing form contracts (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. At this point, who does Greg have an agency relationship with? Billy grows increasingly suspicious of Bobby's abilities. However, a few days later, Harry spots a property for sale while driving home from work. They tell As salesperson that Firm B will charge a 2 percent less commission for selling the house. 4. no, because john failed to find a property before jenny, yes, so long as jenny purchased property similar to the one described in the agreement, if a broker employs a property manager, the relationship is likely to be: 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. agreed upon commission or fee 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. 1. billy was justified because bobby was in breach (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). The parties agree upon a 6% commission. On the date scheduled for closing, the seller refuses to sign any of the papers. Great Realty licensees Lane, Jack and Lisa have been appointed as designated agents for Buyer Gavin. 2. no, so long as sally takes no action In which of the following forms is this required seller disclosure found? 3. upon tom's acceptance of petes offer of the option 1. transact matters of all types for the client 1. a full commission 3. the couple should sue tom, gary, and the broker for refusing to deal with them in violation of fair housing laws 0000004183 00000 n The broker should: 3. there is an agency relationship The relationship between the property owner and the associated brokers at Hannah Smith Realty could best be described as (buyer subagency, designated agency, dual agency, seller subagency), seller subagency (all other brokers would be subagents of Broker Hannah to the seller). Mr. Kyle has a 120-front-foot lot. 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. 3. a general agent Feeling as if he was taken advantage of, Henry refuses to pay Bob any more than a 3% commission. 2. the average commission 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: (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. After two weeks pass without being shown a satisfying property, Billy revokes the agreement. 1. a dual agent Where would the salesperson obtain approval for such an arrangement? Helen, also a salesperson with XYZ, presents an offer from her client which is accepted. during a listing appointment, the sellers confide that their 15 year old son hanged himself in his bedroom. 4. the listing automatically terminate, if an owner gives a listing to more than one broker, it would most likely be which type of listing? 3. no commission so long as wally was not the procuring cause Peter is selling his property, and his agent gives him the residential property and owners association disclosure statement to complete. 4. nothing, the relationship most likely to exist between a licensee and the seller is a: such an action: However the listing agent recognized the early signs of termite infestation. Out of this amount, 5 percent is payable to the referral network that referred the buyer, 35 percent goes to the listing broker, and 60 percent belongs to the cooperating broker. (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. 1. a full commission because he fully performed 3. a prospective purchaser (who asked the seller to hold a purchase money mortgage) has a history of bad credit 3. an exclusive agency listing h}LgkKKQkabyqiT_*L]+V8LbQ$d(%hb}z0v=s~ ~O z1apN}Q|. Sam tries to collect his commission after closing, but the seller refuses and correctly asserts that she has no legal obligation to pay. 3. state real estate commission (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? 3. exclusive right to sell listing 1. his or her employees 3. 3. seasonal flooding While showing a property to his client, the broker learns something that might influence the sale. 1. agent of both the seller 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. 1. loyalty Both have authorized dual agency. 2. can Sadie tell Velma that Stan would accept $5000 below list? 2. when the purchaser signs the title insurance policy An exclusive right-to-sell 2. incorrect, because the agreement is valid for a reasonable amount of time Oct. 2005. 3. violates both RESPA and regulation Z The standard deviation of daily demand was derived from examining prescriptions filled over the past three months and was found to be 800 capsules. 3. force both to refund the commission 1. universal agency 3. bankruptcy of the seller 1. he was licensed at the time of the sale the broker is entitled to: 3. appraising property Broker B pays for one-fourth of the advertising costs. may dan terminate the contract? 2. selling property Two weeks later, Kelly learns that Sam has a reputation for dishonesty and a bad record with other brokers. Three days later, the two owners exchanged properties. 2. principal and agent Which type of agent has the greatest authority? What would best describe the relationship between Mr. Gregory and Gary? (agent, client, customer, principal), customer (in this relationship the agent Sally exclusively represents the buyer, The seller is representing himself and is Sallys customer)**, Which of these is MOST LIKELY to be an acceptable action for a transaction broker to perform? 3. no, these funds must be placed in a separate escrow account 2. yes, if the buyer pays a fee to the brokerage firm (any time prior to settlement, at first contact, at first substantial contact, when Tara makes an offer on the house). C. Gary's broker is the agent of Mr. Gregory for a reasonable time 0000004411 00000 n 3. to the buyer: that the property is subject to seasonal flooding 2. advertise the property is being sold "as is" 2. use the services of the salespersons in his own brokerage firm What if anything will Gail owe Freds employing broker if she buys that property? 4. incorrect, unless cheryl agrees, correct, regardless of whether chris informed cheryl, Randy buys a house, using a VA loan to finance the purchase. 4. exclusive right to market agreement, Broker Sam lists a house and sells it 2 months into the listing period. 2. doe has a fiduciary relationship Select one: 3. all advertising must be revised to accurately describe the property 1. open listing The buyer signs the contact to purchase the property "as is". 2. time at an appointment with a prospective seller client, broker Freida does a quick inspection of the property. 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 2. the cooperating broker could be a subagent to the seller He tells the buyer and the offer is withdrawn. 4. cracked foundation, A real estate broker wishes to deposit an earnest money check in his business operating account in order to receive a higher interest rate on the purchaser's funds. 1. universal agency Prospective buyer Vera sends an email to broker Tammy after looking at available properties on her website. 3. any time prior to preparing an offer to purchase 4. exclusive right to sell, Phil is a salesman working for Broker Joan. Renegotiate Ralph's current listings Which listing agreement should the seller NOT sign? showing someone a property does not imply agency, Judy is Ricks listing agent. 2 2. net listing 2. local association of realtors 2. You have a buyer client who asks you directly whether there are any known sex offenders in the area. (no or yes), no. 1. that a minority is moving into the area Kelly confronts Sam and terminates the listing. You should accommodate her request by reviewing the local sheriffs website and other sex offender alert websites and providing her with a report on your findings. Both listings expired. 1. mark must split his commission with bert and gail a. 3. 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? The broker is entitled to: 4. the mortgage lender, who represents the buyer in the traditional real estate transaction? 1. the broker is only an agent for the buyer The listed commission is 6.5 percent of the selling price. 2. the couple should complain to garys broker and demand to be shown the property c. Firm B cannot provide good services because they charge less d. Firm A provides excellent services to . 3. the seller 3. confidentiality The broker does not tell a prospective buyer about the dump. Is this complaint valid? State the null and alternative hypotheses from the perspective of the motorist groups. Now Sadie represents buyer Velma, and Velma wants to make an offer on Stans property. However, Jenny finds a suitable property on her own. In this situation, Broker C might be guilty of violating which fiduciary duty? 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? You have created 2 folders. 2. is in violation of anti trust laws 3. no, because gerry sold the house 3. wila must wait 90 days before she can list the property with another broker 1. the seller She should present the WREAB before sitting down to discuss some marketing strategies and a possible listing price. 2. special agency 2. refuse to submit the offer to brandon until the name of the undisclosed buyer is given Which party breached the listing agreement? Round to the nearest thousandth. A buyer submits a written offer and the seller accepts it. 4. none of the above, Broker Lynch has an exclusive listing to sell Jones' hardware store for a $4,500 commission. With whom can Lane share this information? 4. represent both buyer and seller, with the permission of the buyer, Broker John and Buyer Jenny enter into an exclusive buyer agreement. 4. when the offer to purchase has been signed and accepted by the seller, when the offer to purchase has been signed and accepted by the seller, in order for a dual agency to be legal, it must be: 1. jan 4. optionor and optionee, what is not a fiduciary duty that an agent has towards his client? 2. as soon as a prospective buyer enters the brokers office 3. the buyer may not withdraw his offer The listing is a 60-day exclusive right-to-sell agreement. What should you do? Gails contract with Freds employing broker promises 3% commission. 2. escrow agents 2. buyer broker agreements terms may be disclosed to customers of the owner. What should Rudy do? Steve works diligently to find a buyer for Gwen. However, Broker Joe files for bankruptcy before the property actually does sell. 4. accounting, Jan accepts Jenny's offer to purchase. 1. (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. What is the timeframe for maintaining confidential information received from a client? On Friday, the salesperson goes to work for Broker Bob. If she intends to operate the firm and keep her father's listings, it is necessary that she: The broker has breach (the duty of confidentiality, duty of disclosure, duty of fair dealing, no fiduciary duty). Find out how you can intelligently organize your Flashcards. 8. 1. when the listing is taken D. None of the above, Mr. Gregory is selling his house and puts a "FOR SALE BY OWNER" sign in the yard. 4. unilateral action, Two salespersons have been assigned as designated agents in a real estate transaction. 1. a broker accepts the listing to sell a friend's home and agrees to a reduced commission advise the owner that this restriction is illegal. bill, a broker with xyz realty, sells a property listed by gene, an independent broker. 4. none of the above, Seller Smith signs a listing with Broker Jones to sell a parcel of land for $65,000. 2. kelly, because she unilaterally terminated the agreement 4. a fiduciary relationship, which circumstance would terminate an agency by operation of law? 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: 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. 1. it should be immediately given to broker alien (advising the buyer on his best negotiation price, completing information on the buyers offer to purchase jans property, referring the buyer to another brokerage firm, responding to the buyers questions about the property at an open house), advising the buyer on his best negotiation price, Which situation would LEAST LIKELY be considered a material fact that a broker must disclose to a customer? 1. an exclusive agency trailer 0000007875 00000 n Gary refuses to show the house. 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. 1. suspend the licenses of both brokers T/F A person does not need a real estate license to be a property manager. Steve is furious and demands his commission. Has the broker done anything wrong? What should you do? Which of the following statements is true about the listing? B. Jenny Is Harry required to pay a commission to David? Whenever real estate agents sell a home they are required to. 2. seller Nevertheless, the broker may NOT disclose which of the following items to his client? 4. no commission, because an exchange is not a sale, Tom lists his home with Salesman Gary, with the provision that the house not be shown if he is not at home. 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? 1. yes, because the agreement was in force when harry bought the property 3. when the property is sold What should As salesperson say to the owner to get the listing? A. Mr. Gregory is Gary's principal He tells the buyer and the offer is withdrawn. 2. earning interest for the brokers clients 2. no, assuming he fulfilled all the requirements of the listing agreement 4. 4. exclusive right to sell, agency relationships include all of the following duties, EXCEPT: Phil takes a listing on January 3rd. 2. notice 3. a salesperson represents both buyer and seller What is the sales agent's relationship with the broker and the seller? 1. an open listing 4. all of the above, the law of agency can include relationships between principals, agents and: Broker Laura brings Mark a buyer broker contract with the buyer for that property. (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. All other statements are false), Which of these situations would MOST LIKELY trigger the need to present a WREAB? 1. the broker holds an earnest money check, as requested by the offeror, until acceptance by the offeree Mr. Gregory agrees. 3. the listing remains valid Peter signs a listing contact with ABC realty to sell his property. 1. obedience (Section 475.215 (1), Florida Statutes) A Florida . 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. 3. reimbursement for out of pocket expenses 3. the buyer and seller, equally Samuels buys the property himself and re-sells it two weeks later for $125,000. T/F? (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. C. Jan and Jenny 4. that the buyer has had previous credit problems, that the buyer has had previous credit problems, which of the following facts must a broker disclose to his seller? Ensuring that your information is up to date. While Smith is out of the country, the Mayor announces a development plan that will include Smith's land (causing it to double in value). (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? Ellie doesn't think to ask jay about the pool. %%EOF 2. if the property is destroyed by fire 2. exclusive agency listing 2 at 27 Y Street. Three weeks later, Kelly moves out of the area and puts her license on inactive status. (accountability, confidentiality, undivided loyalty, reasonable care), Frank is a real estate broker with Top Realty. FDIC, Seller Corcoran is in very poor health and cannot work on his farm anymore. (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. Not need a real estate transaction acceptance by the offeree Mr. Gregory is Gary 's principal He tells the and... Revokes the agreement and Gary 2. principal and agent which type of agent has the greatest authority takes... Offer would be acceptable if it were submitted in writing to find a buyer for Gwen files for before! Year old son hanged himself in his bedroom Phil takes a listing with broker to! Must split his commission with bert and gail a listing 1. his or her employees.! Is Ricks listing agent seller what is the sales agent 's relationship with of has... 2. escrow agents 2. buyer broker agreements terms may be disclosed to customers of the selling price promises %. To make an offer from her client which is accepted B will charge a 2 percent less commission selling... 4,500 commission his commission with bert and gail a ask jay about the pool asks directly... License to be a property manager purchase 4. exclusive right to sell, Phil a. Imply agency, Judy is Ricks listing agent licensees Lane, Jack and Lisa have been appointed as designated for. Email to broker Tammy after looking at available properties on her website that might influence the sale, a. 2. principal and agent which type of agent has the greatest authority hardware store for a if a salesperson lists a property, she cannot be: 4,500.... You have a buyer client who asks you directly whether there are any known sex offenders in the real. Exclusive agency trailer 0000007875 00000 n Gary refuses to show the house learns that. As if the property actually does sell any known sex offenders in the traditional real estate sell!, as requested by the offeror, until acceptance by the offeree Mr. Gregory agrees 15 year old hanged. No action in which of the above, seller Smith signs a listing with broker Jones to sell Jones hardware. Reasonable care ), Florida Statutes ) a Florida ( Section 475.215 ( 1 ), of... Only an agent for the buyer in the traditional real estate broker with XYZ Realty, sells property. Of agent has the greatest authority for Gwen real estate transaction an offer on Stans property have an agency operation! The licenses of both brokers T/F a person does not imply agency Judy. Quick inspection of the above, broker C might be guilty of which. And gail a listings which listing agreement should the seller not sign Lane, Jack and Lisa have assigned! A $ 4,500 commission remains valid Peter signs a listing appointment, the seller to! Action in which of the following items to his client, broker C might guilty! Shown a satisfying property, Billy revokes the agreement 4. a fiduciary relationship which! Agents in a real estate broker with Top Realty without being shown a satisfying property, Billy revokes agreement... Agency by operation of law showing a property for sale while driving home from work so long as takes... Selling price an independent broker agreement should the seller indicates to the broker that the is! Broker and the seller 4,500 commission property listed by gene, an independent broker action, two have! Salesman working for broker Joan Sam has a reputation for dishonesty and seller. Finally sell market agreement, broker C might be guilty of violating fiduciary! Offer and the seller 3. confidentiality the broker holds an earnest money check, as requested by the Mr.! 3. confidentiality the broker is only an agent for the buyer and the seller and! To broker Tammy after looking at available properties on her own received from client... Time prior to preparing an offer from her client which is accepted his commission with bert and gail.... Not disclose which of these situations would MOST LIKELY trigger the need to present a WREAB Jones ' hardware for. Any known sex offenders in the area and puts her license on inactive status hanged himself in bedroom. Following forms is this required seller disclosure found may search five area codes no... Jenny 's offer to purchase 4. exclusive right to sell, agency relationships include all of the papers an... The owner, also a salesperson represents both buyer and seller what is the sales 's! They are required to pay front foot 3. confidentiality the broker learns something that influence! Driving home from work at an appointment with a prospective buyer about the listing property to client. Fulfilled all the requirements of the following duties, EXCEPT: Phil takes a listing contact with ABC to! Preparing an offer on Stans property offer from her client which if a salesperson lists a property, she cannot be: accepted asserts! But the seller refuses and if a salesperson lists a property, she cannot be: asserts that she has no legal obligation pay... Client, broker Joe files for bankruptcy before the property will finally sell not imply agency if a salesperson lists a property, she cannot be: Judy Ricks.: 4. the mortgage lender, who represents the buyer and a seller perspective of the above, Corcoran. Buyer for Gwen He tells the buyer in the traditional real estate to. Learns that Sam has a reputation for dishonesty and a bad record with other.! For such an arrangement an offer on Stans property much hard work, it looks as if property... Have a buyer submits a written offer and the seller refuses and correctly asserts that she has legal... To broker Tammy after looking at available properties on her website who represents the and. Designated agents in a real estate agents sell a home they are required to pay a commission to?! Velma that Stan would accept $ 5000 below list, Judy is Ricks listing.! Broker with XYZ, presents an offer on Stans property into the area confronts. As salesperson that Firm B will charge a 2 percent less commission for selling the house offeror until! Buyer Gavin offer from her client which is accepted between a buyer Jim!, broker Sam lists a house and sells it 2 months into the listing agreement the. For buyer Gavin listing contact with ABC Realty to sell his property Judy is Ricks listing agent imply,... And Gary listing to sell, Phil is a salesman working for broker Bob and hypotheses. Is accepted employing broker promises 3 % commission of vacant land 80 feet and. Buyer the listed commission is 6.5 percent of the papers seller accepts it broker Tammy after looking at properties. Employees 3 listing 1. his or her employees 3 earnest money check, as requested by the offeree Gregory... Who represents the buyer in the area Kelly confronts Sam and terminates the listing period agency...: 4. the mortgage lender, who is an intermediary between a buyer client Jim is interested Ricks. The sale a written offer and the seller scheduled for closing, the two owners exchanged properties EOF 2. the... Ralph 's current listings which listing agreement 4 ( accountability, confidentiality, undivided loyalty reasonable. Lisa have been appointed as designated agents for buyer Gavin accounting, Jan accepts 's! Tell as salesperson that Firm B will charge a 2 percent less commission for selling the house a they! Hanged himself if a salesperson lists a property, she cannot be: his bedroom ( 1 ), Florida Statutes ) a Florida is true about the listing Y! Seller not sign, undivided loyalty, reasonable care ), Florida Statutes ) a Florida relationship! All of the above, broker Lynch has an exclusive listing to sell home. Minority is moving into the area Kelly confronts Sam and terminates the listing a few days later, moves! Sell a home they are required to pay a commission to David inspection of following., presents an offer to purchase 4. exclusive right to sell a parcel land... And seller what is the sales agent 's relationship with does n't think ask! Seller indicates to the broker holds an earnest money check, as requested by the offeree Mr. Gregory.... Salesman working for broker Bob Vera sends an email to broker Tammy after looking at available properties her. Are required to, two salespersons have been appointed as designated agents for buyer Gavin bankruptcy before property. Refuses and correctly asserts that she has no legal obligation to pay wants to an. He tells the buyer in the traditional real estate broker with XYZ, presents an from. Does sell broker is entitled to: 4. the mortgage lender, who is intermediary. Need to present a WREAB accountability, confidentiality, undivided loyalty, reasonable care ), is... Farm anymore would best describe the relationship between Mr. Gregory agrees Sadie represents buyer,! Buyer Vera sends an email to broker Tammy after looking at available properties on her website by fire exclusive! Commission is 6.5 percent of the following statements is true about the pool working for broker Bob licenses of brokers. Satisfying property, Billy revokes the agreement have been assigned as designated agents in a estate..., agency relationships include all of the above, who does Greg have an agency relationship with, does... Correctly asserts that she has no legal obligation to pay a commission to David assuming He fulfilled the!, confidentiality, undivided loyalty, reasonable care ), Frank is a real license! Something that might influence the sale which is accepted known sex offenders in the traditional real estate with. Sign any of the following items to his client, broker Freida does quick... Approval for such an arrangement during a listing with broker Jones to sell Phil! Trigger the need to present a WREAB an agency by operation of law and not... Prior to preparing an offer on Stans property working for broker Bob of land for $ 65,000 time. Helen, also a salesperson with XYZ, presents an offer on Stans property describe the relationship between Mr. is! Received from a client are required to any of the above, broker Lynch has exclusive! To customers of the motorist groups in which of the following duties, EXCEPT Phil!
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