Seller agency duties - Study guides, Class notes & Summaries
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National Portion - Real Estate Exam Prep Questions and Answers Rated A+
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National Portion - Real Estate Exam Prep 
Questions and Answers Rated A+ 
 
agency a consensual fiduciary relationship authorizing a broker to act on the behalf of a 
client 
 
Fiduciary Relationship a relationship in which one party places special trust, confidence, and 
reliance in a trusted person 
 
Principal a person (client) who empowers another (agent) to act as his or her representative 
in a real estate transaction 
 
client those which have entered into a written agency agreement with ...
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Colibri Real Estate Chapter 2 Quiz Questions | 100% Correct Answers | Verified 2024 Version
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An agency relationship may be involuntarily terminated by which of the following? - By destruction 
of the property through fire, vandalism, or natural disaster 
When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the 
listed property automatically becomes - A subagent 
An agency relationship may be involuntarily terminated by which of the following? - Condemnation 
of the property 
Sally is a subagent working for Seller Pat. What does Sally owe to Bu...
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Colibri Real Estate Chapter 2 Quiz Questions and Answers 100% Verified
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Colibri Real Estate Chapter 2 Quiz Questions and Answers 100% Verified 
An agency relationship may be involuntarily terminated by which of the following? 
By destruction of the property through fire, vandalism, or natural disaster 
 
 
 
When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the listed property automatically becomes 
A subagent 
 
 
 
 
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Wisconsin Real Estate Exam Prep Questions and Answers Already Passed
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Wisconsin Real Estate Exam Prep 
Questions and Answers Already Passed 
 
A seller signs listing contract with firm. Who is the agent who is the principal? Seller is the 
principal, firm is the agent. 
 
If you are the listing agent and a buyer asks you to write an offer but does not sign an agency 
agreement, how do you describe the buyer? Customer 
 
What kind of agency is the firm practicing if they represent just one party in a transaction? 
Single Agency 
 
When can a firm engage in multiple...
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Champions School of Real Estate - Exam Prep With Correct Solutions Graded A+
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Champions School of Real Estate - Exam Prep With Correct Solutions Graded A+ 
Buyer Representation Agreement 
An employment contract obligating a broker to act as a fiduciary to a buyer 
 
 
Implied Agency 
Agency as a result of customary, usual or typical conditions 
 
 
Broker 
A properly licensed party who serves a principal in an agency relationship- also called an agent 
 
 
Client 
A party represented by a broker in an agency relationship - also called a principal 
 
 
Duties of an Agent 
...
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Commercial Real Estate SAE - Champion's School of Real Estate 495 Questions with Verified Answers,100% CORRECT
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Commercial Real Estate SAE - Champion's School of Real Estate 495 Questions with Verified Answers 
 
Productivity Management - CORRECT ANSWER Measuring the results from the use of available systems and tools for prospecting activities 
 
CRM - CORRECT ANSWER Contact Relationship Manager, a tool used to automate prospecting tasks and manage leads 
 
Geographic farming - CORRECT ANSWER A particular area that may include neighborhoods that a sales agent or broker markets for the solicitation of bu...
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Champions School of Real Estate - Exam Prep
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Champions School of Real Estate - Exam Prep 
Buyer Representation Agreement 
An employment contract obligating a broker to act as a fiduciary to a buyer 
 
 
Implied Agency 
Agency as a result of customary, usual or typical conditions 
 
 
Broker 
A properly licensed party who serves a principal in an agency relationship- also called an agent 
 
 
Client 
A party represented by a broker in an agency relationship - also called a principal 
 
 
Duties of an Agent 
An agent owes his client obedienc...
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Real Estate Dynamics Ch. 6 & 7 – Agency Questions with Complete Solutions
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A principal empowers an agent to conduct the ongoing activities of one of her business enterprises. This is an example of: Correct Answer-General agency. 
 
A property seller empowers an agent to market and sell a property on his behalf. This is an example of: Correct Answer-Special agency. 
 
Implied agency arises when: Correct Answer-A party creates an agency relationship outside of an express agreement. 
 
A principal instructs an agent to market a property only to families on the north side ...
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Wisconsin Real Estate Exam || All Questions Answered Correctly.
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The foundation upon which real estate brokerage is practiced correct answers Agency 
 
A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant correct answers Agency Relationship 
 
A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client correct answers Agency Agreement 
 
What are two agency agreements? correct answers Listing Agreem...
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NC Post Licensing – 303 Questions and Answers Already Passed
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NC Post Licensing – 303 Questions and 
 
Answers Already Passed 
 
What is the purpose of an agency disclosure form? 
 To inform clients about the nature of the agency relationship and the duties owed 
 
How should a real estate professional handle a situation where they represent both the buyer and 
the seller in the same transaction? 
 
 Disclose dual agency to both parties and obtain their written consent 
 
What is required for a real estate contract to be legally binding? 
 It must be in ...
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