which statement is not true regarding dual agency?is camille winbush related to angela winbush

Yes, because she is targeting properties already listed and offering brokerage services. D. no, because the user had the choice to click or not to click. A) He sells Marys property and receives an additional fee for the sale. A The statement is TRUE. "The size of the bedrooms makes them wonderfully cozy and perfect for your children." C. express an opinion about the quality of title on a property REALTOR Marcy has listed Dereks home, thus creating an agency relationship in which she owes fiduciary duties to Derek. REALTOR Eddie believes that REALTOR Sacha sold his client a house. REALTOR Jack notices the following comment posted under one of his listings on his website. c. is legally entitled to a commission. C) 79. D. tell the Byers to call Sam to find out the nature and terms of any agreement they have with Sam. Principals are generally liable if an agent's frolic and detour is substantial. Marty makes arrangements with the listing agent, REALTOR Caroline, to show the property. Being a REALTOR means being included in the ____________ association(s). The federal legislation known as Megan's Law has promoted the establishment of Any broker is authorized to encourage such bids for the property. He should Maria tells her agent in confidence that she must sell fast and may accept less than the list price. The broker was unethical, but the seller did get to sell the property. B. This introduction is Chad is a customer of Marcys. 104. An exclusive listing must always be at least 30 days long., What are the three most common types of listings . REALTOR Antonio has a buyer agency contract, which entitles him to collect a fee. What is the probability that fatality resulted from this cause? To settle this agreement, they can Which of the following is correct? B. the statutory law that is enacted by the legislature. While REALTOR Mary is putting a sign on a property, a couple pulls up in a car and asks if they can see the property. D. must arbitrate as he and Edward are both REALTORS. both parties consent in writing to the dual agency. A sellers agent is expected to disclose information about material defects in the property to prospective buyers. What is Franks duty? D. refuse to return calls of the agent involved so as not to have to decide, 22. C) A) REALTOR Bill is representing sellers Sue and Sam, who are divorcing. Board of Directors. The structure looks good. This is 75. D. Visit our website at www.tinytownrealestate.com for special offers!, 39. He sells Marys property and receives an additional fee for the sale. (C). D. Joe should not talk to Ralph until after the hearing. A. Thus, profits vary considerably from year to year according to general economic conditions. A seller can sell his or her own home and owe no commission if he or she signs an exclusive agency listing. A. Sarah can take no action as Thomas is the principal broker at his agency; his title gives him seniority in this case. A) Betty could be released from the agency agreement and seek representation from another broker. "The uneven floors just mean that the building dates to colonial times." A. disclosing his true position. A. ask the buyers if they are exclusively represented by another REALTOR. No, because of the right of free speech, Brad can call Ted any time he wants regarding any offers. B. drafting advertisements for general mailing No, because customers get special treatment over other REALTORS. A statement that the disclosed dual agent may disclose any information to one party that the disclosed dual agent gains from the other party if that information is relevant to the transaction, except: (1) The willingness or ability of the seller to accept less than the asking price; Deceitful or dishonest practices C. really none of REALTOR Janes or her clients business. D. litigate the matter with both REALTORS. C. Great location, four blocks away from the Park and Ride A. B. real estate licensees may not litigate over commissions. D. Randy, 84. D. State Licensing Board of Directors. 11. the seller and the listing broker do not have to disclose anything. C) Sales(15,000unitsX$30perunit)VariableexpensesContributionmarginFixedexpensesNetoperatingincome$450,000315,000135,00090,000$45,000. dual-purpose mission; both the principal and the agent. B. C. Only those licensed as sales agents may become REALTORS. C. a violation of Code, because it is not a general announcement. Advertisements on the Internet require Minevik reported Cost of Sales for 2013 of SEK57,222 million. D. unprofessional behavior. C. really none of REALTOR Janes or her clients business. 9. Did Pattys actions violate the Code? C) 82. C. neither broker. agency, so they are incorrect answers to the C. prepare a CMA which demonstrates the accuracy of the price. A. offering an inducement to get someone through the door 18. Which of these statements is an ethical practice by a REALTOR? C. draw up the paperwork on Hollys offer. Keeping both paper and digital copies of important documents is always a safe idea! A) A broker acting for both parties in the same transaction, B) A broker representing more than one principal, C) A broker listing a property and then, after it is relisted with another broker, selling the same property, D) Two brokerage companies cooperating with each other, The laws enacted by a legislature make up, The relationship of broker to client in an agency relationship is that of. Did Pattys actions violate the Code? C. fraud. Generally, the relationship between real estate broker and seller is amend the listing agreement to authorize dual agency and get Jacks signature Broker Hannah obtains an exclusive listing for Hannah Smith Realty. A) D. panic selling. A. allowable because the offer had already been presented and Matthew is just adding information. Compute the break-even point in dollar sales for the company under the new marketing strategy. Identify which statement regarding REALTORS is TRUE. care. A. Chapter 7 Online & Book Quiz Flashcards | Chegg.com Click the card to flip Flashcards Created by C. national The first committee at the local level to review an ethics complaint or a request for arbitration is the Which of the following is not a listing agreement typically used in California? d. principal. B. 120. C) The agent is. No, Martys daughter and the seller were in mutual agreement with the stipulations of the sale. C. both Buyer Bill and Broker Anne. For the years ended December 31, 2013 and 2012. No, because the selling agent can change his mind. buyer representation agreement. C. only look at the MLS. C. purposefully leaving sold houses on a website to make your website look more robust Past correlation of US REIT returns (over the last 20+ years) tends to indicate which Sacha does not want arbitration, and both agree to get lawyers and sue one another. \text{Net operating income}&\underline{\underline{\text{\$\hspace{5pt}45,000}}}\\ C) "I think these low doorways are a charming part of the Cape Cod style." B. advise Susan of the commission differential and renegotiate his fee. REALTOR Bill finds out about the contact and accuses Melanie of trying to steal his client. C. Kathy and Dean had previous dealings with each other. C. the principal Brainscape helps you realize your greatest personal and professional ambitions through strong habits and hyper-efficient studying. even if they are considered a "harmless white lie." D. an offer or inducement. B. Ann cannot file multiple complaints against Marge over this one event. General membership. B. litigation. C) It is one of the rules of society enacted by legislatures and other governing bodies. B. All material facts known about the property from the seller, another agent, previous experience with the property, or researching public records. Which of the following is considered dual agency? Which of the following is considered dual agency? D. neither Broker Deb nor Broker Steve. C. estrangement of John by Broker Nan. In dual agency, an agent's actual knowledge pertains to. a) The partners are under a duty to account for any profits made whilst competing with the firm. B) inform any prospective buyers of the defect. When a consumer wishes to obtain specific information about a listing, he is instructed to click here. The click actually is consent for the consumer to enter into an exclusive, year-long buyer agency agreement with Nathan but this is not apparent. B) The broker designates one sales associate to represent the seller and one sales associate to represent the buyer. C. made a great decision. The broker has violated the agency relationship with the seller. Complaints about the behavior of a REALTOR are A. confidentiality contact the city building inspector about the defect. D. once it has been reviewed by the Board of Directors. D. REALTOR membership is voluntary but provides a distinction from other licensees. C. avoid the subject of the back door and if it comes up, lie Oxford University Press | Online Resource Centre | Multiple choice a prospective buyer's instructions. In MOST situations, the relationship between real estate broker and seller is what type of agency? 29. The broker is obligated to render loyalty to the seller. Zaafir only, because he is an independent contractor. It is Marys listing and she has the key; the sellers are not home but told her to show it anytime. DBA accounting. Conflict of interest is inherent in a dual agency arrangement. After the closing, Eddie calls Sacha to discuss the matter. D. zoning restrictions. 140. D. half of the commission REALTOR Nelson actually received from the seller after he negotiated with the seller to reduce his commission. The industry in which Morton Company operates is quite sensitive to cyclical movements in the economy. B. discrimination. A. Such disclosure is not prevented by the requirement for client confidentiality. A. B. Donna has violated the Code by not disclosing to the seller that she was representing buyer Dan. A. Ann cannot file both an ethics complaint and an arbitration request at the same time. Under the _____ rule, a principal is generally _____ for injuries caused by its agents and employees while they are on their way to or from work. negligent misrepresentation. B. Olivia may ask her REALTOR principal to initiate litigation but she may not initiate litigation on her own. A. complete a pre-printed contract A broker performing as a property manager who deposits the rent into his operating account is an example of Broker Amy discovers that buyer Lori has looked at a property with Ken and tells Lori that she is also in the real estate business and can help her buy the property. A. exclude any human models to avoid any kind of unnecessary bias. A. D. ratifying the findings of the Professional Standards Hearing Panel and hearing appeals from either party. statutory law. C. litigate any differences. C. induced Miriams client to cancel her agreement, which is a violation of the Code. Bettys answer should be (ANSWERS will be revealed with subscription). A buyer's agent, upon learning that the home being purchased is to house a dog-grooming business, didn't check zoning. B) B. REALTORS are not permitted to advertise on more than one site. the principal to whom the agent gives advice and counsel. D. Yes, because she does not have permission from REALTOR Katie. Acting for more than one party in a transaction is within the law c. Failure to disclose dual agency is a violation of the law d. A real estate license may be revoked or suspended for failure to disclose dual agency a. A. may ask the local Association of REALTORS to provide them with a free mediator. D. Broker Steve. Joe tells Ralph that if he shows up at the hearing, hell wish he hadnt! The broker is obligated to render loyalty to the seller. Broker Linda is at a wedding seated at a table with nine other guests. C. Yes, because REALTORS are not permitted to use county records for such purposes. Sara would be considered a Transaction broker an attorney-in-fact. Both information the seller has provided the agent, and material defects that the agent has personally observed It is one of the rules enacted by legislatures and other governing bodies. Based on these facts, which statement is TRUE? C. the principal D. made a referral without Miriams consent, which is a violation of the Code. You are simply a bottom feeder! Identify which statement is true. D. A REALTOR accepts an undisclosed fee from a buyer while serving as a listing agent for the seller. REALTOR Jeffrey is preparing a new advertisement for the Sunday paper that will have pictures of people enjoying the neighborhood community pool. 49. The structure looks good. C. made a great decision. Jean asks Mike his opinion about the structure of the property. An agent works for a principal that is in the business of real estate development. B) Given this information: What cause of fatality is least likely to occur? D) Accidental or implied agency created excessive liability for both licensees and their brokers (and even consumers), and it opened the door to unintended and undisclosed dual agency. In a(n) _____ agency, a contracting third party knows that the agent is acting for a principal but does not know the identity of the principal. the concept of caveat emptor. A REALTOR can recommend another REALTOR to a client who mentioned she is relocating out of state. D. sending a mass mailing out to potential clients, 122. C. No, but only if she doesnt solicit the listing at the same time. 97. A. Brianna Before leaving, REALTOR Patty takes the seller aside and tells her the property wont sell because it is overpriced and shows the seller her comps. This is an express agreement. Patty prepares a CMA prior to the appointment, then shows the property to her prospect, buyer Larry. D) Her letter offers both her property management services and her brokerage services. B. Which of the following is NOT a common type of breach of the agent's duty of loyalty to the principal? A. 70. REALTOR-ASSOCIATE Sarah believes that REALTOR Thomas from another brokerage sold a house to her client and that she was the procuring cause of the sale. 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. A. appraisal. This fact favors how an implied agency may occur. D. notifying him of all known material facts. Oxford University Press | Online Resource Centre | Multiple choice C. not a true picture. B. Jack The agent has not violated any agency responsibilities to the seller. A) Which of the following statements is TRUE? D)!!! A) Eddie and Sacha REALTOR Melanie has a listing, which REALTOR Bill sells. D) prohibited in all states because a broker must always represent one party. The seller accepts the offer. D) Buyer Halie refers to other houses she has looked at with REALTOR Grant. B) The fiduciary responsibilities of an agent to the principal under the common law of agency include B: Disclosing the information could create a fiduciary relationship with the buyer and, thereby, create an unauthorized dual agency situation. Under the _____ test, if an agent commits an intentional tort within a work-related time or This is a violation of the Code because Buyer Travis does not own Big City Enterprises and High-Rise Corporation. A real estate broker hired by an owner to sell a parcel of real estate must comply with common law. 115. REALTOR Dee files an arbitration request and is able to prove she is the procuring cause of the sale. C) She negotiates the offer with buyer Dan, who offered less than asking price. A. ASSOCIATE-BROKER. Seller George paid for a home inspection on his house for a prospective buyer. Statements not known to be false at the time they are made are called _____ misrepresentations. whether the worker is paid by way of direct deposit or check. 58. EXPLANTION: At least one party must be a REALTOR in order to go through the arbitration process. At the closing table, Howard reveals to both REALTOR Jane and the sellers that he has an exclusive buyer agency agreement with his client. Subsequently, he calls her several times a week, sends her e-mails, and mails a packet of additional information. Rather than purchase new equipment, the marketing manager argues that the companys marketing strategy should be changed. Identify which of the following inducements is prohibited. D. Loretta must disclose her interest to her clients and customers, including any financial benefit received. C. reasonable care C. Owen is Howards fiduciary. A) A. A. Loretta may insist that all buyers and sellers use the auxiliary services provided by her company. A) A real estate professionals representing more than one principal, B) Two brokerage companies cooperating with each other, C) A real estate professionals acting for both the buyer and the seller in the same transaction, D) A real estate professionals listing and then selling the same property. REALTOR Marcy listed Dereks home, thus creating an agency relationship in which she owes fiduciary duties to Derek. A) 134. A) required to disclose the information because it is a material fact important to the seller. fraudulent misrepresentation. As of November 2020, dual agency is illegal in eight states: Alaska, Colorado, Florida, Kansas, Oklahoma, Texas, Vermont, and Wyoming. C) According to the Code of Ethics, a REALTOR owes the duty of confidentiality to unless it was considered puffing. B. respond to the author of the comment and request the author remove the comment. sales associates are agents of the broker. C. The price that the sellers told the agent is their minimum selling price. Call REALTOR Dan for a tour today! C) B. disclosing her relationship with Derek C) B) Agents are prohibited from using general information, knowledge, or experience acquired during the course of an agency in later employment. Marty later writes a contract and a sale is made. a) If an agent appoints a sub-agent, that sub-agent is not normally regarded as an agent of the principal. C. Melanie must confirm that the agency relationship between the buyers and REALTOR Bill has terminated. Buyers hire an agent to help them purchase a home and want seller financing because they filed for bankruptcy two years ago. REALTOR Brad shows the listing, writes up an offer, and then calls Smitty to ask him when he would like to present the offer to his client. B. aggressive, but ethical marketing efforts. care and skill in performance. A. Donna has not violated any Article or Standard; she just did her job and sold the house. C. documentation of what the opinion is based on state registries of residential information on sex offenders. If the two parties go to mediation and do not resolve the dispute, they are no longer entitled to arbitration. D. only consider who wrote the successful contract on the property. Which of the following describes a typical equity REIT? C. both Brenda and Jim. Youve come to the right person.. B) C. A REALTOR may not file an ethics complaint at the same time she files a request for arbitration. C. No, I have no experience selling commercial properties so it is illegal for me to do it. D. false advertising. A) B) B) Broker Paul files arbitration against Steve, claiming he introduced the property to Rhonda. B) not required to disclose the information because the seller might reject the offer. D. providing little to no information about known issues with a house. A. ethical. This way is more efficient. disclosure of all facts that the real estate professional knows or should reasonably be expected to know that materially affect the value or desirability of the property. Which statement is true? D. No, because she is a property manager and the listing agent does not offer that service. In real estate transactions, agency is often formed without the signature of the client, so it is up to the real estate professional to keep track of your disclosure. An agent works as a salesperson for a principal who owns an automotive parts business. Which is TRUE? D) REALTOR-ASSOCIATE Olivia believes that REALTOR Jon from another brokerage sold a house to her client and that she was the procuring cause of the sale. Another goal was to recognize and accommodate the growing practice of buyer agency, D. Yes, because Ted did not initiate the conversation. REALTOR Dee shows a property listed by REALTOR Nelson. D. are not allowed to sue each other because they are both REALTORS. 83. Rather than pay sales commissions, which are currently included in variable expenses, the company would pay salespersons fixed salaries and would invest heavily in advertising. A licensed broker obtained an exclusive right-to-sell listing from an owner. In this case, the agent is on a _____, and most jurisdictions hold _____ liable if the agent injures someone while on such a mission. It has been reported that 40%40 \%40% of U.S. workers employed as purchasing managers are females. When, how and to whom agents must reveal for whom they provide client based services. A) C) a. broker. Bud suggests strongly to Buyer John that he would be better served by buying a house from Broker Nan. the common law. REALTOR Frank has been trying for several months to sell the Johnsons home. Sherry produces an agreement of sale, which is acceptable to Tim who sells the property to Wanda. A. Disney tell Saul that the maximum it will pay for a 1-acre lot is $1 million. Sometimes principals request that agents run errands or conduct other acts on their behalf while the agent or employee is on personal business. Which item is considered outside the scope of a real estate license, according to Article 2? Jun 5, 2022. A. Olivia can take no action since Jon is the principal broker at his agency; his title gives him seniority in this situation. a subagent. No, because the properties she found in the MLS have been on the market more than six months. C) A) C. large, four-bedroom on a quiet cul-de-sac lot The real estate broker's fiduciary responsibility to keep the principal informed of all facts, including property condition and issues that affect a seller's willingness to sell and a buyer's willingness to buy, is the duty of: A. skill, care and diligence B. disclosure C. obedience D. accounting disclosure A. each members conscience. B. D) the sales associate was practicing puffing. D. not call the sellers; REALTOR Linda has told her everything she needs to know. 137. A. by establishing a new contract with Mr. Johnson before the previous one had expired. Identify which statement regarding complaint filing is TRUE. The agents fiduciary relationship of trust and confidence with the principal means that the broker owes the principal certain specific duties. disclosure of material facts that the agent knows. D. Melanie should not solicit a buyer agreement with these buyers. A key fact is This is Question: Which of the following statements Is true reqarding the practice of designated agency under North Carolina Real Estate Commission rules?O A Designated agency provides an optional method of practicing dual agency for real estate firms.O B.The designated agency concept may be utilized by a firm that does not practice dual agency. C.

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