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FAQ

What is another word for client in an agency relationship quizlet?
Tenant = Principal (or clients) & RE agent and brokerage = agents. -Owner and real estate agent. Owner=Principal & RE agent=Agent. -Between a prospective buyer for property and a real estate agent.
Which of the following is an example of treating a customer honestly and fairly?
Which of the following is an example of treating a customer honestly and fairly? The answer is providing accurate information to the customer.
Which of the following is a true statement regarding a dual agent quizlet?
Which of the following is a TRUE statement regarding a dual agent? A dual agent can fairly represent both parties in a real estate transaction.
What is a single agency?
Single agency is when an agent represents a client (either the buyer or the seller) and is solely responsible for representing them with their best interests in mind. The buyer's agent and the buyer will sign a buyer's broker agreement, and the listing agent and seller will sign a listing agreement.
Why is it possible for buyers and sellers to fail to understand who represents each of them?
Why is it possible for buyers and sellers to fail to understand who represents each of them? Because a license holder can act as a buyers agent, sellers agent, and intermediary agent.
What is the most common type of agency?
Expressed agency is the most common type of agency and it gives the agent the authority to contract on behalf of the principal.
What is the most common type of agency agreement?
The most common is the Exclusive Right to Sell or Lease Listing Agreement. The means there is an agency agreement between the seller and the broker, granting the broker the exclusive right to represent the seller in the sale or lease of the seller's property.
What are the types of agency relationships?
There are Four Types of Agency Relationships. Buyer Agency. A buyer's agent represents the interests exclusively of the buyer in a real estate transaction Seller Agency. A seller's agent represents the interests exclusively of the seller in a real estate transaction Dual Agency Designated Agency.
Which of the following is a true statement regarding the information about brokerage services notice?
Which of the following is a TRUE statement regarding the Information About Brokerage Services Notice? The notice must be provided at the first substantive discussion about a specific property.
What is the most common type of agency relationship?
Agency is a fiduciary relationship whereby one party expressly or impliedly authorizes another to act under his or her control and on his or her behalf....The most common agency relationships are. Buyer's Agency; Seller's Agency; Dual Agency.
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