Seller agency duties - Study guides, Class notes & Summaries

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 ...

Quiz :An agency relationship may be involuntarily terminated by which of the following? - Answer :By destruction of the property through fire, vandalism, or natural disaster Quiz :When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the listed property automatically becomes - Answer :A subagent Quiz :An agency relationship may be involuntarily terminated by which of the following? - Answer :Condemnation of the property Quiz :Sally is a subagent...

Real Estate-Minnesota Unit 1 Questions and Answers Already Passed When must a real estate salesperson or broker provide an "agency disclosure form?" At the FIRST substantive contact with the residential buyer or seller. What is the "Agency Relationships in Real Estate Transactions" document? This is ONLY a disclosure form and explains what duties an agent owes the potential client in regards to what relationship they form. (NOT a contract. There is a provision for the client t...

Nevada and National Real Estate Questions and Answers Rated A+ Nevada recognizes two types of agency concerning real property: general agency and special agency general agency which the agent is authorized under a general power-of- attorney to perform all duties for the principal that the principal could perform to convey real property (general agency requires a written power-of-attorney with its special recording requirements) special agency which the agent is given limited authorit...

Rockwell Real Estate Exam WA 2 Questions and Answers Already Passed A bathroom contains a toilet, a sink, and a stand-up shower. This would be considered a: A. one-quarter bath B. half bath C. three-quarter bath D. full bath C. three-quarter bath A bathroom with sink, toilet, and stand-up shower is a three-quarter bath A conventional loan can be: A. an ARM B. a 15-year loan C. a 30-year loan D. All of the above D. all of the above A conventional loan is one that is not i...

Colibri Real Estate Chapter 2 Quiz Questions with 100% Correct Answers An agency relationship may be involuntarily terminated by which of the following? - Correct Answer ️️ -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 - Correct Answer ️️ -A subagent An agency relationship may be involuntarily terminated by which ...

Practice Midterm –Rockwell Questions and Answers 100% Pass A broker showed one of his own listings to a buyer he was representing. The buyer decided to make an offer on the property, which was accepted. At no point did the broker disclose his dual agency status. The broker may be: a. forced to give up any payment received from the buyer and/or seller b. sued by the seller c. subject to disciplinary action by the Real Estate Commissioner d. All of the above d. All of the abo...

Texas Principles of Real Estate 1 (2024 / 2025) Exam | Questions and Verified Answers | Grade A Q: Under subchapter E of TRELA the commission has a responsibility to make information available about the commission and its duties in the interest in: Answer: The general public Q: In a real estate transactions who may a licensee represent? Answer: A client Q: What type of real estate market occurs when both supply and demand are low? Answer: Stagnant Market Q: Assume you are a licensee in Texas who...

Rockwell: Washington Real Estate Practices Questions with Verified Answers What is best practice if you don't know the facts to something? To admit that you don't know or remain silent to avoid misrepresentation. If the buyers ask for information that an agent is not legally required to disclose (ex: previous crime in the property), are they required to disclose it upon inquiry? Yes, by duty of good faith. If you know a client has clinical depression and needs a lot of sunlight, ar...

Nevada Exam Questions and Answers Already Passed an unrepresented buyer submits an offer directly to the listing agent the agent must Provide the buyer a Duties Owed by a Nevada licensee Only the seller can fill out The SRPD The maximum liability of ERRF for an individual person is 100,000 What is the maximum amount per judgement that can be paid out of the Errf 25,000 State law allows representation of multiple parties to a transaction, however what authorization is required...