- Audrey wants to take a vacation. To do so, she authorizes an agent to conduct the operations of one of her business enterprises. The kind of agency she has established is
- A broker is hired to procure a customer for a client. In order to earn compensation, the agent must procure a customer who
- An outside broker locates a seller for a buyer representative's client. In this instance, the outside broker is acting as
- An owner's agent is showing a buyer an apartment building. The buyer notices water stains on the ceiling, and informs the agent. The agent's best course of action is to
- Saul was unhappy after he and Janelle liquidated their business. Janelle sold some items for less than he'd initially agreed to, and he wanted the full price to be included in the profit split. He wanted to sue, but he was required to pursue other options. What contract clause kept Saul from being able to sue?
- An agent owes customers several duties. These may be best described as
- A principal instructs an agent to market a property only to families on the north side of town. The agent refuses to comply
- A client suddenly decides to revoke an exclusive right-to-sell listing midway through the listing term. The reason stated: the client did not like the agent. In this case
- A landlord promises to compensate a broker for procuring a tenant, provided the broker is the procuring cause. This is an example of a
- A buyer agent or tenant representative should disclose his or her agency relationship to the owner's agent
- A principal instructs an agent to market a property only to families on the west side of the university campus. The agent refuses to comply. In this case
- The essential foundation of the agency relationship consists of
- An agent fails to discover flood marks on the walls in the basement of a property. The agent sells the property, and the buyer later sues the agent for failing to mention the problem. In this case, the agent
- A principal discloses that she would sell a property for $150,000. During the listing period, the house is marketed for $180,000. No offers come in, and the listing expires. Two weeks later, the agent grumbles to a customer that the seller would have sold for less than the listed price. Which of the following is true
- Owner agents must disclose their agency relationship to tenants or buyers
- Margot and Steve owned several rental properties at the time of their divorce. The divorce decree gave ownership to Margot in return for a cash payment by Steve. Fast forward six years, and Margot is ready to sell the properties. She soon discovers, though, that Steve's name is still on the title. What's her best course of action?
- One of the most important actions an owner's agent is authorized to perform under an exclusive listing agreement is
- An agent informs a buyer that a clause in a contract is standard language. After explaining the clause, the agent assures the buyer that the clause does not mean anything significant. If something goes wrong with the transaction, the agent could be liable for
- A property seller empowers an agent to market and sell a property on his behalf. This is an example of
- The standard of care and competence that a principal can expect from an agent is generally that which is