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Gold Coast Real Estate Homework Questions Answered (Latest Update 2024)
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Gold Coast Real Estate Homework Questions Answered (Latest Update 2024)
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Gold Coast Real Estate HomeworkQuestions Answered (Latest Update
2024)
Who owes fiduciary duties in a single agency relationship?
(a) The broker only
(b) The principal only
(c) Both parties
(d) Neither party - Correct Answer ✅(a) The broker only
All of the following activities are exempt from the
requirement to provide disclosures under the Brokerage
Relationship Disclosure Act, EXCEPT:
(a) Sales staff at a new development center
(b) Showing property to a party that is not being represented
(c) A bona fide open house or model home showing that
does not involve eliciting confidential information, the
execution of a contractual offer or an agreement for
representation, or negotiations concerning price terms, or
conditions of a potential sale
(d) Responding to general factual questions from a potential
buyer or seller concerning properties that have been
advertised for sale - Correct Answer ✅(b) Showing property
to a party that is not being represented
, Gold Coast Real Estate Homework
Questions Answered (Latest Update
2024)
As an agent, a broker is employed by and acts on behalf of
whom?
(a) A buyer
(b) A seller
(c) A customer
(d) A principal - Correct Answer ✅(d) A principal
In which of the following situations does a general agency
relationship exist?
(a) When a broker is employed to market a property
(b) When a sales associate is working with a customer
(c) When a sales associate is employed by a broker
(d) When a broker is employed by a buyer - Correct Answer
✅(c) When a sales associate is employed by a broker
Broker Joan just received an oral offer to purchase a listed
property. No earnest money accompanied the oral offer.
Which of the following statements is correct?
, Gold Coast Real Estate Homework
Questions Answered (Latest Update
2024)
(a) Joan must present the offer.
(b) Joan should not present the offer since no earnest money
deposit was received.
(c) Joan must advise the customer that an earnest money
deposit is required to make an offer valid.
(d) Joan should reject the offer on behalf of the seller. -
Correct Answer ✅(a) Joan must present the offer.
Which of the following statements best describes a
transaction broker?
(a) A transaction broker is an agent of both parties.
(b) A transaction broker has fiduciary duties to the seller.
(c) A transaction broker has fiduciary duties to the buyer.
(d) A transaction broker provides limited representation to
both parties. - Correct Answer ✅(d) A transaction broker
provides limited representation to both parties.
An agent failed to advise a principal regarding the value of
the owner's property prior to accepting a listing. Which
fiduciary duty did the agent breach?
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