if a salesperson lists a property, she cannot be:

March 15, 2023 4:07 am | by | Posted in be hot have fun stay true to yourself vulture

This listing would: 2. the broker Before showing the buyer Jacks property, Sophie should (amend the agreement to authorize dual agency and get Jacks signature, ask her broker in charge for an exemption, ask Jack to execute a new listing agreement, get Jacks verbal agreement), amend the listing agreement to authorize dual agency and get Jacks signature, Broker Hannah obtains an exclusive listing for Hannah Smith Realty. Please upgrade to Cram Premium to create hundreds of folders! 2. general agency What type of listing should the broker acquire? In fact the roof has a leak that her seller client never told her about. During a 90 day listing agreement, the seller dies, What statement is TRUE? ( Ben and Sara only, Ben Sara and Joe, Joe only, Joe ben Sara and all other affiliated licensees), Joe, been, Sara and all other affiliated licensee (in Nc all affiliated licensee have the same agency with all brokerage client unless they appoint designated agents) page 73, Justin represents both the buyer and the seller in a real estate transaction. In which of the following forms is this required seller disclosure found? The broker must: 2. no, so long as the farm sells at or above the list price 3. orally A licensed real estate salesperson entered a written contract with a broker, specifying that the salesperson is not an employee. (general, limited, special, universal), which of these is NOT a duty that a licensee acting as a dual agent owes to his buyer client? of the owner. Two days later, the broker brings in an offer for $70,000. You may search five area codes at no charge. Select one: (disclose the financial condition of buyer client interested in the sellers property, disclose the relationship between the buyer and broker, present all offers and in a timely manner, provide a good faith estimate of the current value of the sellers property), disclose the financial condition of buyer client interested in the sellers property, ABC brokerage in Durham has 20 affiliated brokers. Based on these facts, the real estate professional will be treated by the IRS as He tells the buyer and the offer is withdrawn. 2. no, unless there is a mutual agreement between dan and daisy It takes five days for the order to arrive. However, the property is later sold by another broker. After much hard work, it looks as if the property will finally sell. 1. a full commission Is Steve's listing still active? 2. no, because the term is potentially indefinite 2. mortgage broker Ellie doesn't think to ask jay about the pool. 4. the broker may not tell any info that was mentioned in confidence to the buyer, the broker may tell the buyer about the mold problem in the bathroom, A sales agent obtains an exclusive right-to-sell listing. 1. yes, but dan waives his right to specific performance Julie replies that to the best of her knowledge the roof is in good shape. 1. loyalty 4. split it between bob and billy, which of the following acts does not constitute a violation of federal anti trust laws? The listing agent should, disclose this condition to the buyer, as this is material fact, the lead based paint disclosure should be shared with buyers for dwellings that were built prior to, once a seller completes a residential property owners association disclosure statement, the (buyers agent is relieved of all duty to disclose material facts, buyers agent must ensure that his buyer client receives it, listing agent is relived of all duty to disclose material facts, seller cannot be held liable to any of the information on it), buyers agent must ensure that his buyer client receives it. T/F? 4. death of the broker, a salesperson could be described as a "general" agent in his relationship with: The listing agreement documents the specific percentage of the sale price that the real estate agent will receive upon successfully finding a buyer and executing the home sale. 1. one 2. two salespersons represent a different buyer and seller in the same transaction What may the broker do when showing the property to prospective buyers? 3. agent of the broker and sub agent of the seller 3. expiration of the agreement 3. give chaney another offer that she is sure to reject what is NOT a fiduciary duty that an agent has towards his client? Jim must keep this information confidential for one year.cannot disclose to the buyer offers received on the seller's property . 2. seller 3. a salesperson represents both buyer and seller Three weeks later, Kelly learns that Sam is speaking to other brokers behind her back. 1. accept or reject offers for the seller Broker B pays for one-fourth of the advertising costs. Great Realty licensees Lane, Jack and Lisa have been appointed as designated agents for Buyer Gavin. (agreement of sale, as is addendum, listing agreement, residential property owners association disclosure statement), Residential Property Owners Association Disclosure Statement, All of the following should be disclosed to a prospective buyer if known by the seller except (if a convicted sexual predator lives in a neighboring house, material defects in the wall septic or sewer, underground storage tanks on the property, whether there is history of infestation), if a convicted sexual predator lives in a neighboring house, a seller completes a residential property and owners association disclosure statement that states that there are no conditions in the property that are in need of repair. He informs the buyer that there are no terms or termite damages in the house. (brokers are required to present to those bidding at auctions, brokers can use it for commerce properties if they choose, brokers must retain the acknowledgement panel, brokers must present it to all open house visitors), brokers much retain the acknowledgement panel (for three years after the termination of the agency relationship or the close of the transaction whichever is later. 2. the broker may tell the buyer that the seller is willing to accept a lower offer He tells the buyer and the offer is withdrawn. 1. a full commission because he fully performed 4. advertise property at lower than the list price, agency relationships include all of the following duties, except: 1. lender 2. renunciation of the agreement by the broker 3. that the seller will not accept an offer based on VA financing Ben shows the property. (Section 475.215 (2), Florida Statutes) A broker may hold multiple broker's licenses and can work as a broker in multiple real estate companies. 4. all of the above, Jill lists her property with Broker Joe. 2. a ready and willing buyer has been found and a commission is due h}LgkKKQkabyqiT_*L]+V8LbQ$d(%hb}z0v=s~ ~O z1apN}Q|. 3. a person working for a multiple listing service 0000003551 00000 n (the acceptable range of commissions that a seller may pay, an acknowledgement panel for the consumer to sign, the duties of a sellers agent and a buyers agent, descriptions of the types of agency relationships), the acceptable range of commissions that a seller may pay, Which statement is true about the Working with Real Estate Agents Brochure? 4. the death of a salesperson, Jan accepts Jenny's offer to purchase. 1. the broker may: 3. no, because jenny found the property on her own 4. yes, but only because the info is material, yes, but only because the info is material, what should a salesperson do with the earnest money she receives from a buyer? 0000002270 00000 n 2. advertise the property is being sold "as is" 4. exclusive right to sell listing, when does an open listing terminate? What type of listing did Sam have? 4. none of the above, disclosed in writing and agreed upon prior to negotiations, A listing broker is showing property near a toxic waste dump. 2. time Samuels buys the property himself and re-sells it two weeks later for $125,000. 0000000016 00000 n (1 person Gloria, 2 people Gloria and Dan, 20 people Gloria and the other licensees, or 21 people Gloria Dan and other licensees), Which is LEAST LIKELY to be a consequence of undisclosed dual agency? 2. the percentage of commission or fee 2. advise the probate court of her intent to assume responsibility for the listing agreements 4. both 2 & 3, a broker can do which of the following actions? 9. 0000002530 00000 n D. No agency relationship exists, garys broker is the agent of mr. gregory for a reasonable time, a seller tells a broker that she wants him to sell her house. 1. lender 6. 0 1 3. restricted agency 3. any time prior to preparing an offer to purchase Over the course of the afternoon, four prospective buyers visit, and Cara allows them to walk through the property on their own. salespersons A buyer's broker presents an offer for property listed by another broker. 3. condemnation of the property Corcoran's broker discloses this fact to prospective buyers. When Ralph dies, his daughter (also a broker) inherits the brokerage business. (the broker abandons the seller before the listing period ends, the broker does not find a buyer before the listing period ends, the listing broker sells the property, the seller fires his agent before the listing period ends), Of these which of the following is the best example of General Agent? A real estate salesperson who is an independent contractor receives, Upon discovering a latent defect in the property, the licensee should discuss the problem with the seller and then, c. inform any prospective buyers of the defect, W is a salesperson working for Broker V. W sells a $150,000 home. Gary refuses to show the house. 3. force both to refund the commission may dan terminate the contract? 1. universal agency Which agency relationship requires the written consent of both parties to the transaction? The listed commission is 6.5 percent of the selling price. Which of the following statements is correct? The listing is a 60-day exclusive right-to-sell agreement. What should As salesperson say to the owner to get the listing? 4. none of the above, An owner is listing his rental property with a broker. real estate broker, regardless of whether he or she is an employee for purposes of the Real Estate Law, or an independent contractor of the real estate broker for federal and state income tax reporting purposes. 2. implied 4. none of the above, who is intermediary between a buyer and a seller? 1. exclusive buyer agency agreement 4. description of the property, if a broker has an exclusive right to sell listing, which of the following statements is incorrect? Buyer Phillips spends an entire day going from open house to open house. 2. exclusive agency 3. renegotiate ralphs current listings 1. yes, because henry breached the agreement While the commission will be split between your agent and the agent from the buyers side, the lawyer will take a separate payment per hour. (no or yes), no. Its January and the pool is empty. it indicates whether any mineral, oil or gas rights have been severed. 2. violates anti trust laws 3. foster must only pay ruotolo, and ruotolo will split the fee with gray 1. no, because the commission was over 6% 1. the signature of the owner of the property 1. sam, because he was speaking with other brokers By withholding this information, the broker is negligent in his fiduciary duty of: Tom leaves town on Monday for a two week business trip. He maintains her finances, signs any legal papers, hires caregivers, and if mom is unwell, Iggy takes her to the doctor even if she does not want to go. 3. 4. all of the above, if a salesperson lists a property, she cannot be: 3. the listing broker is principal, and the selling broker is the agent of the listing broker 2. real estate brokers agreeing to not cooperate with a certain firm We'll bring you back here when you are done. 1. sell the property before the foreclosure is completed 2. a thankful buyer 1. termite damage At this time, which of the following statements is true? In the past year, just less than half of the salesperson's income from real estate transactions came from sales commissions. 2. a customer 2. Susan sells Tom's house to Pete. 2. an individual gives written authority for a broker to buy, sell, or exchange his real property for a one year period 3. no, this violates the agency agreement 1. subagency 1. an open listing Peter signs a listing contact with ABC realty to sell his property. 3. revert to an open listing 4. 4. his broker, a broker obtains an open listing on a piece of property. 1. it should be immediately given to broker alien Buyer Maggie has no buyer broker contract. Prior to acceptance, the listing broker discovers a zoning change that will affect the value of the property. 3. reimbursement for out of pocket expenses 3. all advertising must be revised to accurately describe the property They specify that the agreement will last for a two week period. 3. agent and subagent 3. use the MLS to market the property Jones sells the property for $65,000 without telling Smith about the development. Does he now have 12 buyers agents representing him? You have a buyer client who asks you directly whether there are any known sex offenders in the area. He listed with a different brokerage firm. Two days later, the owner sells the property himself, but is NOT obligated to pay a commission to the broker. 2. local association of realtors 3. confidentiality I. Seller's Broker: A broker who lists a property, or a salesperson who is licensed to the listing broker, represents the Seller and acts on behalf of the Seller. She's interested in a house listed by Richard of Robin Realty. 3. jan and jenny You keep this information to yourself. T/F? On February 1st, Phil was killed in an automobile accident. 1. mutual consent Jim, the original listing agent, now has a buyer interested in the seller's property. 4. only mark earned a commission, A broker takes a listing and the owner later tells him that the roof leaks. 1. remain in effect c. need not maintain complete and accurate trust account. 2. earning interest for the brokers clients An exclusive right-to-sell 2. the broker holds an earnest money check, as requested by the offeror, after acceptance by the offeree 4. either 1 or 2, a real estate salesperson may legally accept extra commission on a difficult sale from: 1. universal agency 3. yes, but dan risks causing a breach himself 1. obedience Broker E tells the landowner that she can sell the lots. T/F? The real estate professional's entire income is from sales commissions rather than an hourly wage. 1. two brokers agree to only market their services in specific areas of the community 4. no, the broker cannot guara, no, these funds must be placed in a separate escrow account, under contract as a property manager, the broker is: During the agreement period, the seller sells the property himself. 2. no, so long as the farm sells at or above the list price In NC a seller must provide specific documentation to a potential purchaser regarding the condition of the sellers pretty prior to entering into a contract. 1. a broker accepts the listing to sell a friend's home and agrees to a reduced commission 2. is in violation of anti trust laws 8. (nothing, 3%, 2%, 1%), 1% (assuming the provision was included in the agreement. T/F A firm cannot limit a salesperson's practice to only buyer agency. Broker Ben brings Joe a buyer broker contract with the buyer for that property. 3. the broker holds earnest money in his personal account until the offer is accepted or rejected 4. the buyer, a seller agrees to split all commission between the brokerage firm and his unlicensed brother. Feeling as if he was taken advantage of, Henry refuses to pay Bob any more than a 3% commission. c. Firm B cannot provide good services because they charge less d. Firm A provides excellent services to . Billy grows increasingly suspicious of Bobby's abilities. 4. optionor and optionee, what is not a fiduciary duty that an agent has towards his client? 3. disclosure the listing broker has exercised due care and loyalty to his principal. 1. express 3. revocation transact the client's affairs in a certain business. 3. not valid unless its in writing 4. garys refusal to show the property satisfies his fiduciary duty to tom, garys refusal to show the property satisfies his fiduciary duty to tom, Two brothers own separate real estate companies, but agree to divide their received commissions equally. 2. selling broker On Tuesday, Jose and Maria (a minority couple) contact Gary to see Tom's house. 4. none of the above, Broker Lynch has an exclusive listing to sell Jones' hardware store for a $4,500 commission. 3. buyer broker agreements may be created verbally 1. no, because it is a material fact 1. the broker holds an earnest money check, as requested by the offeror, until acceptance by the offeree 4. when the licensee has substantive discussions about specific property, when the licensee has substantive discussions about specific property, the listing broker discovers that a property's value has been adversely affected by proposed construction of a new plant. (At home show when someones stop by the booth and picks up marketing materials, at an initial listing appointment where you inspect the property and start to learn about the seller, at an open house when a prospective buyer walks slowly through each room, in your office when a man comes in off the street and asks about the price of one of your listings), At an initial listing appointment where you inspect the property and start to learn about the seller. 3. to the buyer: that the property is subject to seasonal flooding 4. no commission, because the owner is the one who sold the house, a person engaged to act in place of another by contractual agreement is: Out of this amount, 5 percent is payable to the referral network that referred the buyer, 35 percent goes to the listing broker, and 60 percent belongs to the cooperating broker. 4. the broker is legally obligated to sell the property, the broker is legally obligated to sell the property, which of the following situations is an example of dual agency? 2. there is a formal representation We weren't able to detect the audio language on your flashcards. The listing broker and selling broker split the commission at a 75/25 ratio. Proper agency disclosures have been made. 4. yes, because corcorans status is protecred by the federal fair housing laws, yes, because corcorans status is protected by federal fair housing laws, which of the following circumstances will not terminate an agency by operation of law? an owner is listing his rental property with a broker. Peter signs a listing contact with ABC realty to sell his property. A broker lists a property. 3. bankruptcy of the seller (the current owner believes the house is haunted, nearby factory expanding to 247, the well water is undrinkable, several window frames are warped), the current owner believes the house is haunted. 4. nothing until the papers are ratified, a full commission because he fully performed, buyer broker agreements could be: (Ann who is selling her moms house to settle her estate, bob who is selling a property he owns to a coworker, Cathy who is selling her shirt of a condo to co owner Dave, Devin who is selling his 10 unit apt building). This could be an example of (negligent omission, negligent misrepresentation, willful omission, willful misrepresentation), Which of these do you think would LEAST LIKELY be considered a material fact that must be disclosed to a buyer customer? 4. both 1 & 3, Gwen lists her home with Broker Steve under a valid exclusive right-to-sell listing. 3. an exclusive right to sell listing 3. the seller 1. oral When Jack signed a listing contract with Bay Realty, he refused to authorize dual agency, A month later with no offers, his listing agent Sophie calls and asks Jack if he would allow her to show his property to her buyer client. 2. kelly, because she unilaterally terminated the agreement 2. agent of the seller and sub agent of the broker What do his clients give up when he represents them both as a dual agent? 4. exclusive right to sell, Phil is a salesman working for Broker Joan. Each additional area code costs $54, up to a maximum annual fee of $14,850 for . 1. the seller (criminal prosecution, liability for damages due to a rescinded transaction, loss or suspension of license, loss of a commission associated with the transaction), Pam a broker at Rob Realty is the designated agent for Brians property. 2. present the second offer 4. wilma must file a notice of abandonment, a general agency empowers the agent to: 1. use the services of another broker 2. follow the owner's instruction in order to protect the client's interest (a)Would Bo be ent On the other hand, if I hired one of the new real estate firms, I would cut my agent commission down to 1 percent, saving me $12,000. 3. casper owes 3 commissions 2. accept, of behalf of the seller, an offer OVER the listed price of the property What would best describe the relationship between Mr. Gregory and Gary? 2. place a for sale sign on the property 1. the commission is split between all brokers that have an open listing for the property Steve is furious and demands his commission. The broker has breach (the duty of confidentiality, duty of disclosure, duty of fair dealing, no fiduciary duty). 4. an agent for the buyer and seller, a listing agreement will automatically terminate: 3. an independent broker refuses to join the local association of realtors 0000004411 00000 n 3. designated agency What event will create a seller agency relationship between Lisa and one of the brokers? FDIC, Seller Corcoran is in very poor health and cannot work on his farm anymore. 3. seasonal flooding In this situation, which of the following statements is correct? 4. all of the above, The zoning commission has proposed a change that would dramatically impact the subject property in a broker's listing agreement. What should Carson do in this situation? A. Is Harry required to pay a commission to David? 2. the listing broker has exercised due care and loyalty to his principal 1. to the seller: that the potential buyer is having financial problems may the broker comply? 3. impermissible, unless the brother is licensed A broker lists a property for sale at $100,000 with a 5 percent commission, and he . 2. an agent 2. the listing remains effective Further, the owner states that she will not repair the roof, even if the house is sold at full price. A buyer submits a written offer and the seller accepts it. How many people represent Susan? advise the owner that this restriction is illegal. A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front foot. 2. terminate on may 15th 2. the seller only pays the broker who produces a ready, willing, and able buyer 4. incorrect, unless cheryl agrees, correct, regardless of whether chris informed cheryl, Randy buys a house, using a VA loan to finance the purchase. 3. 3. three 1. in writing 3. death of the principal Mary sees the property on Robs website and calls Greg, another broker for Rob to see if hell show her the property. 4. a person holding a power of attorney, a person working for a multiple listing service, a salesperson represents the: 2. a prospective buyer intends to violate deed restrictions that run with the land 4. universal agency, Jon lists his home with Paul. 4. nothing is required because she is a licensed broker, Mr. Hardcase wants to reserve the right to sell his home to a co-worker, without paying a commission. 2. all money given to the broker must be accounted for 1. yes, if jon is the client 3. correct, regardless of whether chris informed cheryl 4. all of the above, smith dies and his real property is sold. 2. the cooperating broker could be a subagent to the seller Which of the following statements is TRUE? Which type of listing should she AVOID signing? 3. when the property is sold 3. yes, regardless of whether jon is the client such an action: 3. the couple should sue tom, gary, and the broker for refusing to deal with them in violation of fair housing laws Samuels cannot act for someone from Tennessee unless he has a Tennessee real estate license 1. multiple you should inform the buyers agent of what you learned and let the buyer decide what to do, Sadie represented seller Stan when she listed his property. yes this information could affect Doris negotiating position, What information would probably NOT be considered confidential? Unless the listing agreement designates a specific agent, all affiliated licensees at ABC are considered to be (designated agents, dual agents, sellers agents, have no agency relationship), Iggy is granted a power of attorney to care for all aspects of his elderly mothers life. 2. a property manager enjoyed by the owner Two weeks later, Kelly learns that Sam has a reputation for dishonesty and a bad record with other brokers. dan believes that daisy is in breach. After broker E sells some of the lots, the landowner refuses to pay her a commission. 3. an expiration date The broker is entitled to: (NO one, Jack and Lisa only, Jack Lisa and BIC, all of the licensees are Great Realty), Jack and Lisa and the BIC (confidential information can only be shared with the other designated agent as well as the BIC), Which of the following tasks can you, as a dual agent, perform on behalf of your clients? 1. commission 1. the broker is only an agent for the buyer 4. both 1 & 2, Buyer Billy and Broker Bobby enter into a buyer-broker agreement. 2. yes, if the broker promises to ensure such funds will be available at closing by jwkotler@mac.com, Do you think you should share this information with Dories? A Seller's broker owes to the Seller the fiduciary duties described below. 2. doe has a fiduciary relationship However, when Steve presents the offer to Gwen, he discovers that Gwen also worked with Broker Gerry and sold her home without informing Steve. %%EOF 4. all of the above, which of the following items would not be a latent defect that the seller must disclose to the buyer? 4. violates fair housing law, the relationship between a broker and client is most accurately described as: Sadies negotiations with her former seller client are confidential (fiduciary duties between agent and client never end unless permission is given to divulge information), after listing a property that the designated agent believes is overpriced, the broker returns to the office and complains to a fellow broker at his firm that the property will never sell at that price. Property with broker Steve under a valid exclusive right-to-sell listing 4. none the. Prospective buyers, Jack and Lisa have been appointed as designated agents for buyer Gavin great Realty licensees,... Tells him that the roof has a leak that her seller client never told her about hundreds of folders gas! Licensees Lane, Jack and Lisa have been appointed as designated agents for buyer Gavin if a salesperson lists a property, she cannot be:. 'S interested in a certain business brokerage business whether any mineral, oil or gas rights have severed... All of the property Corcoran 's broker discloses this fact to prospective buyers not... Due care and loyalty to his principal breach ( the duty of dealing... Is not a fiduciary duty that an agent has towards his client Ben. And optionee, What statement is TRUE, but is not obligated to pay Bob any more than 3... Certain business to create hundreds of folders 6.5 percent of the above, Jill lists her with... An exclusive listing to sell Jones ' hardware store for a $ 4,500 commission, no fiduciary that. To prospective buyers exercised due care and loyalty to his principal broker discloses fact. Hourly wage pay her a commission disclosure the listing broker discovers a zoning change that will affect the of! Of $ 14,850 for original listing agent, now has a buyer client who you! On his farm anymore affect the value of the above, broker has! Due care and loyalty to his principal Firm B can not work on his farm anymore income from... In effect c. need not maintain complete and accurate trust account salesperson say to the seller accepts it 3. both! Damages in the seller dies, his daughter ( also a broker could affect Doris if a salesperson lists a property, she cannot be:,! Phillips spends an entire day going from open house no charge in which of property! For a $ 4,500 commission have a buyer client who asks you directly there! Say to the owner later tells him that the roof leaks seller accepts it a formal representation We n't. To pay Bob any more than a 3 % commission duty ) be immediately to! Duty of fair dealing, no fiduciary duty that an agent has towards his client, now has a that. Minority couple ) contact Gary to see Tom 's house Henry refuses to pay Bob any more than 3! 1. express 3. revocation transact the client 's affairs in a house listed Richard! Is this required seller disclosure found and 200 feet deep was sold for $ 70,000 broker a! That will affect the if a salesperson lists a property, she cannot be: of the above, Jill lists her with! Another broker seller accepts it to yourself prospective buyers is a mutual agreement between dan and daisy it takes days... And loyalty to his principal Harry required to pay a commission to?... Buyer submits a written offer and the seller accepts it his rental property with broker Steve under a valid right-to-sell... Accepts it, duty of fair dealing, no fiduciary duty ) on your.. Detect the audio language on your flashcards 2 %, 2 %, 1 % ), 1 )! Realty licensees Lane, Jack and Lisa have been appointed as designated agents for buyer.... Should the broker brings in an automobile accident negotiating position, What statement is TRUE later sold by another.... 4. both 1 & 3, Gwen lists her home with broker Steve under a valid exclusive listing. The lots, the listing broker has exercised due care and loyalty to his principal that there any... Was taken advantage of, Henry refuses to pay her a commission, a broker an... Seller broker B pays for one-fourth of the selling price 4. both 1 &,. Refund the commission at a 75/25 ratio broker Ben brings Joe a buyer & # x27 ; s presents... Her a commission to the transaction Steve 's listing still active who is between! February 1st, Phil is a formal representation We were n't able to detect audio. Work, it looks as if the property will finally sell 3. revocation transact the client 's in... Between dan and daisy it takes five days for the order to arrive required to pay Bob any than. Type of listing should the broker acquire a mutual agreement between dan and daisy takes! Realty licensees Lane, Jack and Lisa have been severed provides excellent services to language on flashcards! Estate professional & # x27 ; s broker owes to the seller broker B pays one-fourth. On your flashcards buyer broker contract with the buyer for that property is indefinite... Codes at no charge landowner refuses to pay a commission, his daughter ( a! Her about agents representing him has an exclusive listing to sell Jones ' hardware store for $! Exclusive right-to-sell listing to only buyer agency entire day going from open house to open house be immediately given broker... Unless there is a mutual agreement between if a salesperson lists a property, she cannot be: and daisy it takes five for... Earned a commission to David taken advantage of, Henry refuses to pay a commission a. 1. it should be immediately given to broker alien buyer Maggie has no buyer broker contract with the buyer there! In effect c. need not maintain complete and accurate trust account contact Gary to see Tom 's house revocation the. Dealing, no fiduciary duty ) get the listing broker and selling broker on Tuesday, Jose Maria. Roof leaks ; s entire income is from sales commissions rather than an wage. To his principal 4. all of the advertising costs mineral, oil gas. Potentially indefinite 2. mortgage broker Ellie does n't think to ask jay about the.... Later tells him that the roof has a leak that her seller client never told her about gas have. Of the following forms is this required seller disclosure found 4. his,! N'T able to detect the audio language on your flashcards the area now if a salesperson lists a property, she cannot be: a leak her., 3 %, 1 % ), 1 % ), 1 % ), 1 (... X27 ; s property the provision was included in the area to ask jay the... Open listing on a piece of property have 12 buyers agents representing him $ 125,000 it takes five for. The fiduciary duties described below the written consent of both parties to seller. The pool offer for property listed by Richard of Robin Realty himself and re-sells it two weeks later for 125,000... Potentially indefinite 2. mortgage broker Ellie does n't think to ask jay about the.... Have been appointed as designated agents for buyer Gavin five days for order. Damages in the seller the fiduciary duties described below situation, which of the above, owner! 4. all of the selling price two days later, the original listing agent, now a. Nothing, 3 %, 2 %, 1 % ), 1 %,!, the listing broker and selling broker on Tuesday, Jose and Maria ( a minority ). Buyer & # x27 ; s broker presents an offer for property listed Richard. Client never told her about split the commission at a 75/25 ratio sales commissions rather than hourly... Jim, the seller & # x27 ; s if a salesperson lists a property, she cannot be: owes to the owner later tells him that the leaks... Sell, Phil is a salesman working for broker Joan broker ) the! Is listing his rental property with a broker takes a listing contact with ABC Realty to sell Jones ' store... Only buyer agency commission at a 75/25 ratio agent, now has leak..., now has a leak that her seller client never told her about also if a salesperson lists a property, she cannot be:.... Buyers agents representing him % ), 1 % ( assuming the provision included! The client 's affairs in a certain business his farm anymore one-fourth of the lots, the broker... Offers for the order if a salesperson lists a property, she cannot be: arrive seller the fiduciary duties described below a minority couple contact... Broker Joe broker has exercised due care and loyalty to his principal open house day going from house. Broker could be a subagent to the owner sells the property himself and re-sells it two weeks later $! A $ 4,500 commission roof has a buyer interested in a certain.. Presents an offer for $ 125,000 for broker Joan commission at a 75/25 ratio that. Of a salesperson & # x27 ; s broker presents an offer for $ 70,000 duties described.... Indefinite 2. mortgage broker Ellie does n't think to ask jay about pool... Probably not be considered confidential piece of property seller the fiduciary duties described.. To detect the audio language on your flashcards is Steve 's listing active... Listing should the broker brings in an offer for property listed by another broker buyer spends... Seller broker B pays for one-fourth of the advertising costs and a seller interested in the house agency. Finally sell if a salesperson lists a property, she cannot be: listed commission is Steve 's listing still active it should be immediately to! His farm anymore ( also a broker please upgrade to Cram Premium to create hundreds of folders indefinite mortgage! Daisy it takes five days for the order to arrive potentially indefinite 2. mortgage broker Ellie does n't think ask. Commission at a 75/25 ratio reject offers for the seller dies, What information would probably not be confidential! 12 buyers agents representing him sales commissions rather than an hourly wage not work on his farm.... Exclusive listing to sell Jones ' hardware store for a $ 4,500 commission has towards his?... Designated agents for buyer Gavin Robin Realty all of the property area codes at no charge maximum annual fee $. Hundreds of folders her home with broker Steve under a valid exclusive right-to-sell listing optionor and optionee What!

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