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WRA Chapter 3 Quiz with verified solutions | Already Passed
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WRA Chapter 3 Quiz with verified solutions | Already Passed
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WRA Chapter 3 Quiz with verified solutions |Already Passed
What is the status of a firm's commission if a seller accepts an offer two weeks after the expiration
of the listing from a buyer who attended an individual showing during the term of the listing?
✔✔The seller owes the listing firm a commission if the buyer is a protected buyer.
Which of the following is true of the WB-1 Residential Listing Contract? ✔✔It warns a seller that
limiting a firm's cooperation with other firms may reduce the marketability of the property.
The WB-36 Buyer Agency Agreement: ✔✔Creates an agency agreement between a purchaser and
a firm.
Which of the following statements does NOT correctly describe a buyer agency agreement? ✔✔A
buyer must sign a buyer agency agreement for all property transactions.
When does a firm with a WB-1 Residential Listing Contract earn a commission? ✔✔An LLC owns
the property and new owners acquire the LLC.
What must a firm do when working with a buyer? ✔✔A firm must use a WB-36 Buyer
Agency/Tenant Representation Agreement if the buyer will be a client.
The WB-36 Buyer Agency Agreement: ✔✔Can be used to create general agency.
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