Laws of Agency

A real estate broker is subject to disciplinary action from the Department of Real Estate (DRE) if they:

Arizona requires how many hours of pre-license education?

Nevada requires how many hours of pre-license education?

A licensed real estate salesperson is primarily responsible to:

Connecticut requires the Real Estate Agency Disclosure:

All of the following actions create an agency relationship, except:

Arizona agency disclosure must be provided:

Nevada real estate licensees are regulated by the:

In Georgia, the Brokerage Relationships in Real Estate Transactions Act (BRRETA) requires:

The New York Agency Disclosure Form must be:

All of the following terminate an agency relationship, except:

For a buyer’s broker to have the ability to negotiate their fee, the buyer’s broker needs to enter into an employment agreement with their buyer, called a(n):

An agency relationship in real estate is terminated in multiple ways. All of the following are likely to be the cause of termination of an agency relationship, except:

A New York dual agent must have:

Which of the following is NOT a fiduciary duty owed by an agent to their principal?

A real estate agent is obligated to communicate any offer to the principal:

If a 16-year-old emancipated minor wishes to sell real property, their broker may:

A broker acting as an agent for a principal has as much authority as:

A seller's agent in Texas owes which duty to buyers?

A seller of property tells their broker the house is connected to the sewer. The broker relays this information to a buyer, who later finds that the house has a septic system in need of repair. The buyer would sue:

Dual agency occurs when:

An agent who exceeds the authority granted by the principal:

If a seller refuses to pay an earned commission to a broker, the broker may:

Two brokers secretly agree to charge identical commissions and divide service territories. These practices violate:

The seller states they will accept the buyer’s offer if the broker lowers their 6% commission by 25%. If the broker accepts, they will receive:

■What amount is remaining after all commissions, sales, and referral fees are paid out? The answer is company dollar. ■If a broker wanted to avoid the possible loss of personal assets from a law- suit against the brokerage firm as well as double taxation, the BEST form of business structure would be a

What are the three steps of the agency disclosure in proper chronological order?

A disclosure which warns a buyer they may be liable for additional tax obligations after the close of escrow is the:

Listing broker learns prospective buyer owes delinquent child support. Which duty requires disclosure to seller?

A broker provides services to both a buyer and a seller in a transaction without disclosing their dual agency status. This is an example of:

When a dual agency is established in a targeted sales transaction, the broker and their agents may not pass on any information from one party to the other relating to:

A broker who fails to promptly disclose their dual agency status is subject to:

A broker’s fiduciary obligation to protect a seller’s confidential information continues:

A fiduciary relationship exists between:

Which duty requires an agent to keep the principal informed of all material facts?

A listing agreement creates an agency relationship between:

When taking a listing, it is appropriate for the broker to:

A listing contract contains a clause stating that the seller agrees to pay a commission in exchange for the broker’s agreement to use diligence in procuring a buyer. This clause:

Brokerage fee provisions which may be included in a seller’s exclusive right to sell listing agreement include:

All correctly describe listing brokers and property managers except:

Broker Chuck listed a duplex for sale from a corporate owner. After entering into the listing, the officers of the corporation die in a plane crash. What happens to the listing?

A broker receives a full price offer on a house they are listing. Before they present the offer to the seller, another broker brings in an all cash offer for $5,000 less. The listing broker is to:

When showing a listed property to potential buyers, the listing broker is required to disclose:

Listing broker gave negotiation advice to prospective buyer at open house without discussing agency. What agency type formed?

On which type of listing contract is a broker required to state the amount of their commission is negotiable and not fixed by law?

A listing broker sells an office building to a syndicate of which the broker is a member without informing the seller of this interest. Before closing, the seller discovers the broker’s interest and refuses to sell. What would happen in a civil suit to collect a commission?