100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
UNIT 24 Question and answers 100% correct 2024 R245,34   Add to cart
Quickly navigate to
Preview
  2.  
  3. Lowa
  4.  
  5. Lowa

Exam (elaborations)

UNIT 24 Question and answers 100% correct 2024

 7 views  0 purchase
  • Course
  • Lowa
  • Institution
  • Lowa

UNIT 24 Question and answers 100% correct 2024 UNIT 24: IOWA AGENCY OVERVIEW agency - correct answer The relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions. appointed agency - correct answer one licensee repres...

[Show more]

Preview 2 out of 10  pages

Document information

  • August 30, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • unit 24
  • unit 24 question and answers 100 correct 2024

Written for

  • Lowa
  • Lowa

Seller

avatar-seller
Academia199

Reviews received

Content preview

UNIT 24: IOWA AGENCY OVERVIEW
agency - correct answer ✔The relationship between a principal and an agent
wherein the agent is authorized to represent the principal in certain
transactions.


appointed agency - correct answer ✔one licensee represents the seller;
another licensee in the same office represents the buyer


brokerage - correct answer ✔The bringing together of parties interested in
making a real estate transaction.


client - correct answer ✔party to a transaction who has an agency
agreement with the licensee for brokerage services


customer - correct answer ✔consumer of real estate-related services who is
not being represented by the licensee


dual agency - correct answer ✔created when both parties to a transaction
give written authority to one licensee to represent both parties in the
transaction


et vir - correct answer ✔and husband


et al - correct answer ✔and others


et ux - correct answer ✔and wife

, exclusive-agency listing - correct answer ✔owner of the property promises to
compensate a broker for locating a buyer, but the owner reserves the right to
produce the buyer without paying the broker a commission


t/f The listing contract does NOT have to include the broker's commission rate.
- correct answer ✔false


t/f A protection clause in the listing agreement protects the sellers from
unscrupulous buyers who try to avoid paying a commission. - correct answer
✔false


Two prohibited referral practices address contractual interference: - correct
answer ✔-A licensee is not allowed to request a referral fee for a buyer who
has already made a bona fide offer, accepted by a seller.
-A licensee is not allowed to request a referral fee for a seller who has already
signed a bona fide listing agreement.


exclusive right-to-sell listing - correct answer ✔give brokerage firms the
exclusive right to market the seller's property during the term of the listing and
receive a commission


extender clause - correct answer ✔A clause in a listing that entitles a broker
to a commission for a set period of time after the listing has expired if the
property is sold to a prospect that the broker introduced to the property during
the listing period.


general agent - correct answer ✔One who is authorized by a principal to
represent the principal in a specific range of matters.


t/f Iowa law does NOT authorize the use of disclosed dual agency. - correct
answer ✔false

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Academia199. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R245,34. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

84190 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling
R245,34
  • (0)
  Buy now