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When a principal feels there is a grievance with a broker, they need to first pursue the broker for damages. If unsuccessful in collecting after prevailing in court, they can then submit the judgment to the Recovery Fund for payment.
Which of the following is not a possible agency relationship?
Agent for themselves.
In 1968, the U.S. Supreme Court barred all racial discrimination in the sale or rental of property. A person discriminated against should
file a civil action in federal court.
When a deed includes the racial identity of the parties, it can be rewritten under which of the following circumstances
by court order.
The Real Estate Law is part of
the Business and Professions Code.
When approached by members of minority groups who want to be shown property, a real estate salesperson avoids showing the buyers property in integrated areas. This would be an example of
An agency relationship would not be created by
Which of the following is not a recognized purpose of the Equal Credit Opportunity Act?
Regulating the printing or publishing of an advertisement for the sale or rental of residential property that indicates a wrongful discriminatory preference.
A buyer’s agent prepared a purchase offer on a home for their buyer. When should the agent give the buyer the Agency Law Disclosure form?
As soon as practicable.
The Real Estate Commissioner is authorized to
promulgate rules and regulations to enforce the California real estate laws.
Who may withdraw money from a trust fund?
Any authorized employee of the broker.
A property owner tells the broker that the house is connected to the sewer. The broker relays this information to the buyer, who later finds that the house has septic system in need of repair. The buyer would sue
the broker and the owner.
If a real estate broker fires a salesperson for an illegal act, the broker should inform the Real Estate Commissioner of the firing
Immediately in writing. It is unconditionally required.
When a broker or their agent, acting on behalf of a client, has a competing professional or personal bias which hinders their ability to unreservedly fulfill the fiduciary duty they have undertaken, this is referred to as a (n)
conflict of interest.