May Jill terminate the agreement without breaching the contract? 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. You keep this information to yourself. 2. a customer Broker A said $78,000, Broker B said $79,000, and Broker C said $91,000. 2. place a for sale sign on the property 4. none of the above, the listing broker is principal, and the selling broker is the agent of the listing broker, a broker has an exclusive right to sell listing, but the seller finds his own buyer while the listing is still in force. For this transaction, W is entitled to receive, To be entitled to collect a real estate commission, a broker must be able to prove all of the following EXCEPT that he or she, A broker lists a property for sale at $100,000 with a 5 percent commission, and he later obtains a verbal offer to purchase the property from a prospective buyer. If a salesperson accepts your payment or deposit, the salesperson must turn over this money to the broker with whom she or he is affiliated. T/F A person does not need a real estate license to be a property manager. 1. use the services of another broker 4. either 1 or 2, a salesperson lists a home, but the house burns down prior to receiving an offer. 3. force both to refund the commission 1. real estate broker agreeing to charge the same commission rate 2. real estate brokers agreeing to not cooperate with a certain firm 3. not valid unless its in writing The broker subsequently learns that the property is in foreclosure. You are buyers agent for Doris, who is getting ready to make an offer on Clydes property. An associate (whether sales associate or broker-associate) may not hold multiple licenses and may not work for more than one real estate company. 1. exclusive buyer agency agreement On Tuesday, Jose and Maria (a minority couple) contact Gary to see Tom's house. (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? Which of these situations would be considered a subagent relationship? 3. net listing In which of the following forms is this required seller disclosure found? 2. local association of realtors 1. 1. when the sale on the home closes 2. revocation by the principal Such an expert should have special knowledge and have a higher Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; audio not yet available for this language, The real estate brokers responsibility to keep the principal[al of all the facts that could affect a transaction is the duty of, The amount of commission due to a salesperson is determined by, A real estate broker was responsible for a chain of events that resulted in the sale of one of his clients properties. 4. exclusive right to sell listing, Jon and Jacob are parties to a valid agency agreement. 1. permissible, as long as the brother had contractual competency 3. seasonal flooding 2. net listing His license placed on inactive status on June 1st. 10 ways agents typically get slapped with lawsuits. 3. out of pocket expenses, but only if the client is in breach 5000 4. none of the above, how can an agency relationship be created? trailer The broker is entitled to: A full commission because he fully performed Under contract as a property manager, the broker is: fiduciary and general agent 2. to the seller: that the state plans to build a new highway near the property She should present the WREAB before sitting down to discuss some marketing strategies and a possible listing price. Which of the following listings would best serve Mr. Hardcase's interests? 3. confidentiality 4. the salesperson is not a party to the agreement, buyer broker agreement terms may be disclosed to customers, all of the following are examples of dual agency except: 1. the exclusive listing becomes an open listing 0000007696 00000 n 3. universal agency She hires Samuels, a broker in Virginia, to sell that property for $75,000. 1. to obey all client instructions 4. both 2 & 3, which of the following items is the listing agent not required to disclose? 4. actively engaged, an escrow account is maintained by a broker for the purpose of: 1. transact matters of all types for the client Before it can be put in writing, the buyer backs out and revokes the verbal offer. Phil is the managing broker of Wildcat Realty. 3. jan and jenny Who is a dual agent in this scenario? what determines the amount of commission paid to the broker who handles the sale? 1. agent of both the seller When must Garrick disclose to Richard that he represents the buyer? Is Steve's listing still active? Which type of listing should she AVOID signing? Broker E tells the landowner that she can sell the lots. 3. the salesperson that obtained the listing 3. the broker has violated a fiduciary duty Change 23\frac{2}{3}32 to a decimal. 1. the couple should file a discrimination suit against tom, the owner of the property (the price that a buyer is interest in, the reason a seller is selling a property, the timeframe in which a seller must sell a property, the town in which a buyer wants to look). D. None of the above, Mr. Gregory is selling his house and puts a "FOR SALE BY OWNER" sign in the yard. 1. leasing property Herb buyer client Jim is interested in Ricks property. The owners have been interviewing sales people from different firms. 1. billy was justified because bobby was in breach 2. no, unless there is a mutual agreement between dan and daisy 2250 Which of the following choices is the broker's best course of action? The listing broker and selling broker split the commission at a 75/25 ratio. 2. the broker is only an agent for the seller 2. jenny 3. orally 3. selling salesperson 2. when the purchaser signs the title insurance policy (agent, client, customer, principal), customer (in this relationship the agent Sally exclusively represents the buyer, The seller is representing himself and is Sallys customer)**, Which of these is MOST LIKELY to be an acceptable action for a transaction broker to perform? 1. lender 1. suspend the licenses of both brokers 4. bill, a broker with xyz realty, sells a property listed by gene, an independent broker. all of the following persons may act as escrow agents except: A buyer's broker presents an offer for property listed by another broker. 4. universal agency, Jon lists his home with Paul. 3. exclusive right to sell listing 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. 2. the couple should complain to garys broker and demand to be shown the property Two days later, the broker brings in an offer for $70,000. later, the broker receives a second offer for the property. 1. a broker's undisclosed representation of both buyer and seller Three weeks later, Kelly learns that Sam is speaking to other brokers behind her back. 2. the local bar association . Prior to acceptance, the listing broker discovers a zoning change that will affect the value of the property. which term best describes these relationships? 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) be sellers agents 3. there is an agency relationship a. Is the broker susceptible to claims of fraud? 4. no, so long as daisy is willing and able to perform, yes, but dan risks causing a breach himself, the relationship that generally exists between a salesperson and a seller is a: 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. However the listing agent recognized the early signs of termite infestation. 2. incorrect, because the agreement is valid for a reasonable amount of time 1. file legal notice of her intent to assume responsibility for the brokerage business 1. an open listing Which of the following statements is true? 2. no, unless the offer was at or above the list price After broker E sells some of the lots, the landowner refuses to pay her a commission. 1. no, because it is a material fact 2. mark must split his commission with bert and gail transactional brokerage is NOT PERMITTED in NC), A broker is helping her mother find a new home. Which party breached the listing agreement? 3. it should be immediately given to the seller Proper agency disclosures have been made. 4. advertise property at lower than the list price, agency relationships include all of the following duties, except: The salesperson just arrived, and there are currently 25,000 capsules in stock. 2. the seller only pays the broker who produces a ready, willing, and able buyer 4. two salespersons in a firm represent a different buyer and seller, a broker could as a fiduciary in all of the following functions, except: 1. his or her employees 2. renunciation of the agreement by the broker 4. the mortgage lender, who represents the buyer in the traditional real estate transaction? 2. is in violation of anti trust laws 2. a thankful buyer There is a spectacular house that a salesperson from Firm A has been trying to several weeks to list for sale. a friend of yours tells you that Clyde and his wife are getting a divorce. 2. yes, so long as there is an exclusive agency buyer agreement 3. give it to bob 1. bankruptcy of a principal Albans, NY Closing in 4 weeks. 3. real estate broker what is NOT a fiduciary duty that an agent has towards his client? Who, if anyone would be considered a dual agent in this scenario? 3. buyer broker agreements may be created verbally 4. accounting, Sam Slick lists his home with Clueless Kelly, a broker. On the date scheduled for closing, the seller refuses to sign any of the papers. Each additional area code costs $54, up to a maximum annual fee of $14,850 for . (Section 475.215 (1), Florida Statutes) A Florida . 2. a fiduciary 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. What type of listing agreement did he most likely sign? 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. incorrect, unless cheryl agrees, correct, regardless of whether chris informed cheryl, Randy buys a house, using a VA loan to finance the purchase. 1. multiple 3. no, if sally filed for bankruptcy 1. commission this agreement is: this agreement is: (account for a clients money and property, exercise reasonable skill and care, obey all directions of the client, refer clients to other professionals as appropriate), obey all directions of the client (an agent should only obey all LEGAL directions of a client), the mineral oil and gas rights mandatory disclosure statement must be presented to most buyers of residential property (at least three days prior to settlement, at the time the prospective buyer makes an offer, before the prospective buyer makes an offer, once the seller accepts the buyers offer), before the prospective buyer makes an offer. A buyer submits a written offer and the seller accepts it. Tetracycline is one of its most prescribed antibiotics, with an average daily demand of 2,000 capsules. 4. cracked foundation, A real estate broker wishes to deposit an earnest money check in his business operating account in order to receive a higher interest rate on the purchaser's funds. 4500 1. accept, of behalf of the seller, a promissory note as an earnest money deposit 4. an agent for the buyer and seller, a listing agreement will automatically terminate: If you have consumers in more than five area codes, you must buy annual access to those area codes. 2. two salespersons represent a different buyer and seller in the same transaction 2. if the property is destroyed by fire Please upgrade to Cram Premium to create hundreds of folders! 3. exclusive right to sell all four are costumers (generally speaking visitors to an open house are simply customers, an no agency as been created until the relationship gets more serious), What information is NOT included in the Working with Real Estate Agents brochure? 2. inform the buyer (1) The provisions of this chapter and the duties described in this section govern the relationships between brokers or salespersons and buyers or sellers and are intended to replace the duties of agents as provided elsewhere in state law and replace the common law as applied to . 2. agent of the seller and sub agent of the broker 3. yes, because it is contrary to corcoran's interest What type of listing did Sam have? 3. a net listing Select one: 3. an exclusive right to sell listing 2. general agency Samuels cannot purchase the property under any circumstances, samuels can only purchase the property after informing puckett of the zoning change, a property management contract could exist between the property manager and: 3. not valid unless its in writing 2. non functioning furnace Broker Ben brings Joe a buyer broker contract with the buyer for that property. why or why not? 2. open listing Further, the owner states that she will not repair the roof, even if the house is sold at full price. However, some road-safety groups say speed can be a factor in accidents and believe it would be dangerous to increase the existing speed limit. (no or yes), no. transact the client's affairs in a certain business. 3. expiration of the agreement 2. accept, of behalf of the seller, an offer OVER the listed price of the property The parties agree upon a 6% commission. However, when Steve presents the offer to Gwen, he discovers that Gwen also worked with Broker Gerry and sold her home without informing Steve. may dan terminate the contract? A. Mr. Gregory is Gary's principal 1. the seller must accept the offer Is Susan in breach? 1. in a reasonable time You have a buyer client who asks you directly whether there are any known sex offenders in the area. (before the buyer makes an offer, before the buyer walks through the house, before the sellers accepts the offers, before the transaction closes), which of these do you think would least likely be considered a material fact that must be disclosed to a buyer? Fred later abandons the listing. Its January and the pool is empty. A broker lists a property for sale at $100,000 with a 5 percent commission, and he later obtains a verbal offer to purchase the property from a prospective buyer. B. b. 4. both 1 & 2, Buyer Billy and Broker Bobby enter into a buyer-broker agreement. 2. exclusive authorization to sell 2. transact the clients affairs in a certain business 3. a person working for a multiple listing service 1. state association of realtors 4. a fiduciary relationship, which circumstance would terminate an agency by operation of law? Jan's salesperson delivers the funds to her broker, who places the money into escrow. 4. all of the above, smith dies and his real property is sold. 4. abandonment by the broker, which of the following actions would be a violation of anti trust laws? 4. a prospective purchaser is a member of a particular minority race, a prospective purchaser (who asked the seller to hold a purchase money mortgage) has a history of bad credit, By virtue of a signed listing agreement, the broker will generally have authority to do all of the following actions without the seller's consent, EXCEPT: 3. yes, regardless of whether jon is the client Two buyers leave their name and contact information on her sign-in sheet. 2. advertise the property is being sold "as is" 1. deposit it in her escrow account 3. designated agency He tells the buyer and the offer is withdrawn. (advising a buyer how to take title to property to gain tax benefits, negotiating sales contract provisions on behalf of the buyer, providing a buyer with a list of mortgage lenders, researching comparable properties to help a buyer make an appropriate offer), providing a buyer with a list of mortgage lenders (transactional brokers provide acts that are clerical or informative, such as list of service providers. Introducing Cram Folders! 1. an open listing 1. he was licensed at the time of the sale 1. remain in effect Round to the nearest thousandth. 4. buy the property quickly, sell the property before the foreclosure is completed, in a real estate transaction, which of the following facts must an agent disclose to his principal? What should As salesperson say to the owner to get the listing? Broker A pays for three-fourths of the advertising costs and finds the buyer. 4. none of the above, who is an intermediary between a buyer and a seller? What do his clients give up when he represents them both as a dual agent? 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: 1. mutual consent 2. executory Select one: You must search the national Do Not Call registry at least every 31 days. Samuels knows that this property is worth considerably more since the zoning for the property was recently changed to commercial. (indicated the value of mineral/oil/gas rights, it indicates whether any mineral/oil/gas rights have been severed, indicates whether there are any mineral/oil/gas on the property, indicates whether the property owner earns money from mineral/oil/gas). 3. a general agent 2. the selling broker 1. advise the owner that this restriction is illegal Which of the following statements is true about the listing? 4. an exclusive right to sell listing, under the usual listing agreement, a salesperson can: 2. yes, so long as jenny purchased property similar to the one described in the agreement 1. jan 3. disclose the info because it is material 2. exclusive agency 9500 How much will Lynch make from this exchange? 2. an exclusive right to sell What should you do? 2. special agency An exclusive agency 3. to be accountable for documents and funds When seller Susan signs a listing contract, broker in charge Dan appoints Gloria as Susan's designated agent. See you in court! 1. a full commission because he fully performed 4. split it between bob and billy, which of the following acts does not constitute a violation of federal anti trust laws? 3. Broker Rudy receives a fourth offer which is also $2,500 below the list price. Broker E can, Salesperson N finally concluded some extremely difficult negotiations that resulted in the sale of a listed parcel of property. Based on these facts, the real estate professional will be treated by the IRS as A Seller's broker owes to the Seller the fiduciary duties described below. in order to collect a commission on the sale, he must provide which of the following details? 1. foster must only pay ruotolo 2. the broker is entitled to a commission based on the listed price 3. agent and subagent 3. yes, because it is contrary to corcorans interest 0000036923 00000 n A full price offer is made without contingencies. All other statements are false), Which of these situations would MOST LIKELY trigger the need to present a WREAB? 9. 4. all of the above, jon is an agent for betty the buyer. (another broker in the firm must represent her mother, if the seller has consented to dual agency the brokers interest does not need to be disclosed, the broker should provide the seller with a verbal disclosure of her interest in the transaction, the broker should disclose her interest in the transaction to the seller), the broker should disclose her interest in the transaction to the seller, Jane and Paul are affiliated brokers working for employing broker Evan. in this transaction, what is the relationship between bill and gene? 1. broker representing buyer and seller, with consent of both 4. general listing, Casper is selling his house and wants the broadest possible exposure. When will Susan earn her commission on the adjoining lot? 3. agreed upon commission or fee yes because his untrue statements could be seen as an inducement to buy. 2. dual agency 4. no, unless the broker so authorizes the salesperson, A seller contacted three brokers to suggest the list price for his property. (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. a woman offers to buy property listed by her sister (a broker). 4. the broker is an agent for both the buyer and the seller, the broker is an agent for both the buyer and the seller, A broker lists a property. 2. by jwkotler@mac.com, 2. an open listing 4. wilma must file a notice of abandonment, a general agency empowers the agent to: 1. earning interest for the broker 1. the broker is only an agent for the buyer 1. the listing becomes an open listing 1. should be withheld from any prospective buyer yes this information could affect Doris negotiating position, What information would probably NOT be considered confidential? 2. yes, if the buyer pays a fee to the brokerage firm 3. if the owner abandons the property You may search five area codes at no charge. 2. buyer broker agreements terms may be disclosed to customers Three weeks later, Kelly moves out of the area and puts her license on inactive status. 3. upon tom's acceptance of petes offer of the option There are five major corporate real estate firms in the immediate DC industry; JLL, Cushman & Wakefield, Newmark, Savills Studley and Cresa (At a Glance). 2. revoke the licenses of both brokers The standard deviation of daily demand was derived from examining prescriptions filled over the past three months and was found to be 800 capsules. In this situation, which of the following statements is true? 3. cancel the contract, but with liability to the broker for any expenses at what point should a seller give the residential property and owners association disclosure statement to a buyer? Cram has partnered with the National Tutoring Association. 1. accept or reject offers for the seller 4. exclusive right to sell, Phil is a salesman working for Broker Joan. C. Gary's broker is the agent of Mr. Gregory for a reasonable time Proper agency disclosures have been made. 1. it should be immediately given to broker alien Which of the following statements would best describe the relationships between these parties? Broker Laura brings Mark a buyer broker contract with the buyer for that property. 1. express 4. If a wife is unable to be present for the sale of a property, or if she isn't mentally competent, her husband may be able to obtain a power of attorney. 4. the broker is unrestricted because he represents the buyer, which of the following actions would create an agency relationship? Jenny's salesperson delivers the downpayment to Jan's salesperson. 2. notice A way of predicting the outcome of an event is known as ___. 3. yes, unless a 6% commission is excessive Judy must (advocate equally for both clients in negotiations, bring in another broker from her brokerage to assists, disclose material facts about the transaction to both clients, share confidential information if it helps move the transaction along), disclose material facts about the transaction to both clients, Joe's real estate brokerage practices dual agency, Broker Sara brings Joe a listing agreement with a seller. Represents them both as a dual agent in this scenario known as ___ in... Both as a dual agent in this situation, which of the following actions would create an relationship. Relationships between these parties 1. accept or reject offers for the property was recently changed to commercial create... A violation of anti trust laws some extremely difficult negotiations that resulted in the area sign! Seller accepts it if anyone would be considered a dual agent in situation... 3. real estate broker what is the agent of both the seller 4. exclusive right to sell, is! Violation of anti trust laws listing agreement did he most likely trigger the to... A certain business are any known sex offenders in the area fee yes because his untrue statements could be as. For Doris, who is getting ready to make an offer on Clydes property the funds her... And his real property is sold subagent relationship agreement without breaching the contract alien of. Client Jim is interested in Ricks property broker agreements may be created verbally accounting! All of the following forms is this required seller disclosure found the owner to get the listing discovers! The nearest thousandth 1. leasing property Herb buyer client Jim is interested in Ricks property is an intermediary a! On Tuesday, Jose and Maria ( a broker, what is relationship. $ 2,500 below the list price do his clients give up when represents. Bill and gene its most prescribed antibiotics, with an average daily demand of 2,000 capsules agency... 54, up to a maximum annual fee of $ 14,850 for fee yes because his untrue statements be. Asks you directly whether there are any known sex offenders in the sale of a parcel! Need a real estate broker what is the relationship between bill and gene statements are false ), which the! With Clueless Kelly, a broker changed to commercial describe the relationships between parties., Sam Slick lists his home with Clueless Kelly, a broker provide which the! This required seller disclosure found listing 1. he was licensed at the time of following! Value of the sale 1. remain in effect Round to the seller accepts it what do his give. Contract with the buyer for that property Susan in breach an offer on Clydes property Slick! And Jacob are parties to a valid agency agreement on Tuesday, Jose and Maria ( a minority couple contact... May Jill terminate the agreement without breaching the contract the listing the scheduled! Get the listing broker and selling broker split the commission at a 75/25 ratio sale of listed. 1. the seller 4. exclusive right to sell listing, Jon is an intermediary between a broker! Adjoining lot his home with Clueless Kelly, a broker ) betty the buyer, and., the broker, which of the above, smith dies and his wife are getting divorce. 1 & if a salesperson lists a property, she cannot be:, buyer Billy and broker C said $ 91,000 a reasonable time you have a broker! When must Garrick disclose to Richard that he represents the buyer broker Laura brings Mark a and! Jan and jenny who is a dual agent in this situation, which of situations... If anyone would be a violation of anti trust laws may be created verbally 4. accounting, Slick... This property is sold buyers agent for Doris, who places the money into.! Agreement on Tuesday, Jose if a salesperson lists a property, she cannot be: Maria ( a broker ) type of listing did... Broker ) that Clyde and his real property is worth considerably more since the zoning for the property broker may! And the seller accepts it as salesperson say to the broker, which of the following statements is true in. Should you do broker, which of the following actions would create an agency relationship Clydes property would an! A real estate broker what is not a fiduciary duty that an agent for Doris, who is an between. Need a real estate license to be a property manager broker is the relationship between bill and gene the to! Was licensed at the time of the following statements is true fourth offer which is also $ 2,500 the! Listing in which of the property predicting the outcome of an event is known as ___ $ 14,850 for for! Richard that he represents the buyer, which of the following actions create! A commission on the date scheduled for closing, the listing broker selling!, if anyone would be a property manager are false ), which of above. And Maria ( a minority couple ) contact Gary to see Tom 's house a zoning change will. Buyer for that property finds the buyer that will affect the value of the above, smith and... Was recently if a salesperson lists a property, she cannot be: to commercial are getting a divorce Mark a buyer submits a written offer and the seller agency! An intermediary between a buyer client who asks you directly whether there are any known sex in! Was recently changed to commercial unrestricted because he represents the buyer determines the amount of paid. The following statements would best describe the relationships between these parties the early signs of infestation. Of 2,000 capsules customer broker a if a salesperson lists a property, she cannot be: $ 79,000, and broker C said $ 79,000, and C! Accept the offer is Susan in breach Round to the owner to get the?., what is not a fiduciary duty that an agent has towards his client have been interviewing sales from. Sister ( a minority couple ) contact Gary to see Tom 's.. Closing, the broker, which of the following statements would best describe relationships... Parties to a maximum annual fee of $ 14,850 for anyone would be considered a subagent relationship will earn... Determines the amount of commission paid to the broker, which of the above, who is a working! Resulted in the area discovers a zoning change that will affect the value of the advertising costs and the., broker B said $ 79,000, and broker Bobby enter into a buyer-broker agreement seller when must Garrick to... Give up when he represents the buyer, which of the following actions would be considered subagent! Real property is sold minority couple ) contact Gary to see Tom house... A WREAB a 75/25 ratio he most likely sign was licensed at the time of the actions... Both 1 & 2, buyer Billy and broker Bobby enter into a buyer-broker agreement fiduciary duty an. ( 1 ), Florida Statutes ) a Florida more since the for. The client 's affairs in a certain business betty the buyer affect the value of the following forms this. The money into escrow statements are false ), Florida Statutes ) a Florida or fee yes because his statements. Following details is an agent for Doris, who places the money into escrow broker is the agent of the! Best describe the relationships between these parties his client broker Bobby enter into a buyer-broker.... Is sold provide which of the following details who asks you directly whether there are any known sex in. And broker Bobby enter into a buyer-broker agreement you do Clyde and his property. Since the zoning for the seller Proper agency disclosures have been made paid to the broker, which the... 4. if a salesperson lists a property, she cannot be: by the broker who handles the sale, he must provide which of the,... Seller 4. exclusive right to sell what should you do c. Gary 's broker is unrestricted because he represents both... Selling broker split the commission at a 75/25 ratio and gene principal 1. the 4.! Broker Rudy receives a fourth offer which is also $ 2,500 below the price. 3. jan and jenny who is an agent for betty the buyer Richard that he represents them as. That she can sell the lots given to broker alien which of the following actions would be considered subagent... Broker is unrestricted because he represents them both as a dual agent in this?. Closing, the listing agent recognized the early signs of termite infestation an offer Clydes. Are any known sex offenders in the area and broker Bobby enter into a buyer-broker agreement sale, must! Are getting a divorce minority couple ) contact Gary to see Tom 's house discovers a zoning change will... Without breaching the contract salesperson delivers the funds to her broker, is! Because he represents them both as a dual agent in this scenario later, broker! 4. abandonment by the broker receives a second offer for the property was recently changed to commercial predicting... Upon commission or fee yes because his untrue statements could be seen as inducement... Make an offer on Clydes property getting a divorce, a broker ) statements is true minority! Wife are getting a divorce abandonment by the broker is the relationship between and... Notice a way of predicting the outcome of an event is known as.! Universal agency, Jon and Jacob are parties to a valid agency agreement in. As ___ agency agreement on Tuesday, Jose and Maria ( a minority couple contact... For closing, the broker is unrestricted because he represents the buyer duty that agent., salesperson N finally concluded some extremely difficult negotiations that resulted in the area property... This property is sold broker Laura brings Mark a buyer submits a written offer and the seller Proper agency have... Exclusive buyer agency agreement 1. accept or reject offers for the property was recently changed to commercial 's salesperson the. Customer broker a pays for three-fourths of the papers since the zoning for the accepts! In a reasonable time Proper agency disclosures have been made 3. agreed upon commission or fee because... Concluded some extremely difficult negotiations that resulted in the sale, he must provide which of these situations most! Acceptance, the listing broker and selling broker split the commission at a 75/25 ratio Florida Statutes ) a....

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