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Agency can be created by any of those actions.
A listing broker may not be
the sole agent of the buyer.
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.
A seller’s broker receives a written offer on a listed property. They are certain the seller will not accept it. What would NOT be an acceptable action for the seller’s broker?
change the offer price to what the broker thinks the seller will accept, and initial the change.
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