Only choice (C) is not true, so it is the correct answer to the question. fraud. 130. Misrepresentation or omission might result in broker liability, In a dual agency situation, a broker may represent both the seller and the buyer in the same transaction if. Jerry discloses his compensation agreements to both parties and receives their consent. the common law. A. Loretta may insist that all buyers and sellers use the auxiliary services provided by her company. D. use the comment in other places on his website to help drum up new business. must promote and safeguard the seller's best interests. c. agent. Which of the following is true of a listing agreement? The local association of REALTORS must offer mediation to both parties before an arbitration hearing is held. REALTOR Loretta has a large brokerage that includes an in-house mortgage lender, an in-house title company, and she offers home warranties through her company. and disclose all facts concerning the property. local registries of residential information on sex offenders. B. not a violation of the Code as REALTOR Terry doesnt know any agents in Hawaii. Call REALTOR Dan for a tour today! Nelson informs Matthew of the rejection, and Matthew believes Jennifer did not understand the details of the contract. Pete learns that the buyers have an exclusive agreement that expires in two months with REALTOR Ryan, employed by a competitive brokerage. C. arbitrating disputes B. unethical. When Frank contacts Mr. Johnson to renew the listing, Mr. Johnson informs him that he just signed a contract with REALTOR Jim that becomes effective one day after the current listing expires. Thus, profits vary considerably from year to year according to general economic conditions. An agent works as a salesperson for a principal who owns an automotive parts business. Such disclosure is not prevented by the requirement for client confidentiality. Lori subsequently meets broker Amy, whose son plays ball with Loris son. disclosure agreement. D. do not have the option of arbitration through the local Association of REALTORS. B. opinion of value. REALTOR Patty has an appointment to show REALTOR Katies listing. C. only consider who made the initial introduction to the property. A. C) 143. A young couple is looking for a new house. Refer to the original data. C) Disclosure of material facts that the agents knows. Several buyers enter REALTOR Petes office and ask about one of the companys listings. Conflict of interest is inherent in a dual agency arrangement. B) It is a legal doctrine that is not unusual. B) C. Owen is Howards fiduciary. universal agency. D. Marge does not have to provide any information about the matter to the Grievance Committee. (Assume that enough funds are available to make the purchase.). D. I think you should list with me as soon as that week is up. B. contact the sellers and write the contract. B. discrimination. B. may ask the local Association of REALTORS to arbitrate it. Which of these is an example of panic selling? Refer again to the data in (1) above. Broker Joann admits she was an exclusive buyer agent for her client and knew the compensation offering before showing the house. 16. B. consider how and when Amy entered the transaction. It is Marys listing and she has the key; the sellers are not home but told her to show it anytime. C) REALTOR Bill finds out about the contact and accuses Melanie of trying to steal his client. B) B. contact the sellers and write the contract. The agent's job is to sell the principal's automotive parts to auto repair shops and other purchasers. Which of the following scenarios MOST accurately describes the typical income tax B. homeowners selling at a below market value because the demographics of the neighborhood is changing Who is liable? 46. Only choice (C) is not true, so it C. documentation of what the opinion is based on B. may ask the local Association of REALTORS to arbitrate it. That same day, Jans buyer client calls Carlos directly and asks for an appointment to see the property and Carlos provides the showing. 28. The relationship between the agent and the seller ends automatically if the purchaser submits an offer. Is Brad violating the Code if he calls Ted? tell the seller that the defect must be repaired. D. sending a mass mailing out to potential clients, 122. A. ask the buyers if they are exclusively represented by another REALTOR. B. negate that the introduction strongly favors Paul. REALTOR Bill is representing sellers Sue and Sam, who are divorcing. No. D)!!! Broker Mike had the property listed most recently. She takes the people through the house and they ask Mary to write the contract. Unit 9 Flashcards | Quizlet REALTOR Nelson owes REALTOR Dee The broker can agree to a change in price without the seller's approval. D. putting contracts in writing. C. REALTOR-ASSOCIATE. C) It is one of the rules enacted by legislatures and other governing bodies. A. beautiful home in an exclusive neighborhood D) D. contact Linda to let her know there is an offer. Identify which of these practices a REALTOR is permitted to do. There are four elements of a cause of action for fraud: (1) the licensee made a misstatement or failed to disclose a material fact; (2) the licensee either knew or should have known that the statement was not accurate or that the undisclosed information should have been disclosed; (3) the buyer relied on the misstatement; and (4) the buyer was loyalty to the principal's interests unless they conflict with the agent's interests. REALTOR Frank has been trying for several months to sell the Johnsons home. principal is liable for any injuries caused by the agent's intentional torts. 139. Which of the following is correct? C. You really need to consult with your attorney with questions of that nature. C. Jon is allowed to encourage Halie to break her contract with Grant if she is not satisfied with his performance. Which of these actions violates the Code? D. State Licensing Board of Directors.

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