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Changes and counteroffers must be made by the principals. Any action instigated by the agent would be wrong.
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A listing broker may not be ____
the sole agent of the buyer.
Which of these would create an agency relationship ____
Any of the above.
If an agent discloses to their principal the race, creed, or color of a prospective buyer or tenant, has the agent committed a discriminatory act?
Yes, since the race, creed or color of the prospect does not matter.
A salesperson representing a buyer, in selling properties listed with another broker, is directly responsible to ____
the selling broker.
When a broker deposits their own personal or business funds in a client trust fund account, that act is referred to as ____
In regards to items of value held in trust, which of the following statements is least likely to be true?
Trust funds cannot take the form of precious gems or stones.
Which will not terminate an agency relationship?
A seller’s agent listed a ranch for sale under an exclusive right to sell listing. A buyer’s agent, working through the local multiple listing service (MLS), presented an offer which the seller accepted. During escrow, the seller’s agent discovered the buyer had recently purchased many similar ranches in the area at a far higher cost per acre than had been offered in this transaction. What should the seller’s agent do?
Disclose all information to the seller and let the seller decide what to do.
Failing to provide financing in certain communities is called ____
A real estate broker sends all of their title business to Wonderful Title Co. In appreciation of the business, the title company pays the broker $10 for each transaction. According to the Real Estate Settlement Procedures Act (RESPA), this practice is ____
A real estate broker is guilty of conversion if they ____
used trust funds for their personal use.