#1. 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 real estate licensee has a duty to disclose to all parties, including their principal and the firm's client all material facts. A material fact about the property is any issue that would affect a seller's willingness to sell and a buyer's willingness to buy.
#2. Designated agency in North Carolina is considered: 1. A form of dual agency 2. Mandatory if you practice dual agency
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
1 only
Designated agency is a form of dual agency. It is an optional practice permitted in North Carolina when one firm represents both the buyer and seller. In order to offer designated agency firms must have policies and procedures to insure that the confidential information of the parties is protected. Within the firm one licensee is designated to represent the seller and one licensee is designated to represent the buyer. Firms do not have to offer designated agency to clients.
#3. Designated agency can be practiced: 1. Between two firms 2. Between a broker-in-charge and a provisional broker licensee in their office
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
Neither 1 nor 2
Designated agency is never practiced between two firms. It occurs when the same firm represents both the buyer and the seller. A broker-in-charge and a provisional broker can never be designated agents in the same transaction. They must be dual.
#4. An agent must have the buyer sign a written agency agreement by what specific point in time? 1. At the time of first substantial contact 2. Prior to the submission of an offer on the buyer’s behalf 3. At the time the agent attempts to limit the buyer’s ability to work with another agent
A. 1 only
B. 1 and 2 only
C. 2 and 3 only
D. 1, 2 and 3
2 and 3 only
Licensees are permitted to practice non-exclusive oral agency with buyers. They must still disclose agency at first substantial contact but may work under an oral agreement up until the submission of an offer on the buyer's behalf. At the time of submission of an offer the licensee must have a written buyer representation agreement. Oral buyer representation cannot be exclusive (prevent a buyer from working with another agent) and it cannot involve a specific time period.
#5. Under the general principles of agency, when a licensee is acting on behalf of a client and acts improperly who is liable for the acts of the licensee?
A. only the client
B. only the licensee and the broker-in-charge
C. only the client and the licensee
D. the client, the licensee, the firm and or the broker-in-charge
the client, the licensee, the firm and or the broker-in-charge
The concept of agency means that someone is legally acting on behalf of another. Therefore the agent's actions are considered the actions of the principal and the firm or broker in charge also had duties of supervision.
#6. A disclosure of agency status should be made by a buyer’s agent to the seller: 1. With a written confirmation in the offer to purchase and contract 2. At the initial contact with the seller’s agent, orally or in writing
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
Both 1 and 2
The Offer to Purchase and Contract contains a confirmation of agency status as do the written employment agreements. The agency status must also be disclosed to other licensees and 3rd parties at initial contact. Disclosure to consumers occurs at first substantial contact.
#7. Iris, a subagent of the seller who is working with a buyer customer, is told by the buyer customer that he wants to offer a low price on a property. The buyer customer says to Iris, “I want to offer $85,000 initially; however, I’ll go as high as $90,000 to get the property.” Iris wrote the offer and delivered the offer to the listing agent, Lucy. Iris told Listing Agent Lucy that the buyer customer is offering $85,000 initially, but he will go as high as $90,000 to get the property. Listing Agent Lucy did not tell the seller the buyer would be willing to go for a higher price. The seller accepted the buyer's offer of $85,000. Who violated the Law of Agency?
A. Iris
B. Lucy
C. Both Iris and Lucy
D. Neither Iris nor Lucy
Lucy
Iris is working as a seller's subagent and therefore her fiduciary duties are to the seller. Iris had a duty to disclose the information she possessed regarding the buyer to Lucy. Iris properly fulfilled her agency duties. Lucy also had a duty as the seller's representative to disclose this information, but did not disclose it with the offer. Lucy violated her fiduciary duties to the seller.
#8. The amount of compensation due to a licensee from the brokerage firm is determined by:
A. state real estate regulators to ensure the public the most protection from incompetent licensees
B. local real estate board's minimum wage guarantee to agents
C. in-house employment contracts
D. listing agreements
in-house employment contracts
The commission splits and amounts paid by brokerages to their individual licensees is contained in their independent contractor agreements. These splits do not appear in listings, buyer-broker agreements or the Offer to Purchase and Contract. They are a matter of private agreements and are not regulated by either the state regulatory agencies or local real estate boards.
#9. Which of the following would be dual agency?
A. a broker-in-charge assisting a buyer client in the purchase of property that was listed by a provisional broker of another firm
B. a provisional broker and a broker licensee from firms that are cooperating in a transaction
C. a firm that represents buyers and sellers
D. a broker having a buyer client for a property the broker personally listed
#10. A real estate broker was responsible for a chain of events that resulted in the sale of one of his client's properties. This is referred to as:
A. chain of title
B. procuring cause
C. private offering
D. ready, willing and able buyer
procuring cause
Procuring cause is a concept that allows for a licensee to be entitled to a commission when they are involved in a chain of events that resulted in the sale, even if the client eventually purchased through another licensee or firm.
#11. All of the following could legally be considered fraudulent, EXCEPT:
A. deceitful or dishonest practices
B. generalized exaggerated opinions about the property
C. omitted statements of material fact
D. misstatements about the property
generalized exaggerated opinions about the property
Generalized and exaggerated opinions about a property such as "great neighborhood" "wonderful location" are broad statements that are considered puffing and are legal and permitted.
#12. A seller has listed a home with a broker for $90,000, and the broker suggests to a prospective buyer-customer that they submit a low offer because of the seller's urgent need to sell. The buyer offers $85,000, and the seller accepts it. In this situation:
A. the broker has violated his agency relationship with the seller
B. the broker's action was acceptable since the seller accepted the offer
C. the broker acted properly to obtain a quick offer on the property
D. any broker is encouraged to solicit such bids for the property
the broker has violated his agency relationship with the seller
The broker licensee represents the seller. Their fiduciary duties are to the seller. In this instance the broker provided the seller's confidential urgency to a buyer customer and violated the law of agency to protect and promote their client's interest.
#13. Upon discovering a latent defect in the property, the listing agent should discuss the problem with the seller, and then:
A. inform the seller that the defect must be repaired
B. arrange for the repairs himself or herself as required by the terms of a typical listing contract
C. inform any prospective buyers of the defect
D. contact the city building inspector about the defect
inform any prospective buyers of the defect
A latent defect is a defect that is not readily apparent or is hidden. The seller does not have an obligation to disclose such defects, but a real estate licensee has a duty to disclose to all prospective buyers material facts which the licensee knows or should have known.
#14. Which of the following BEST describes the common law of agency?
A. the disclosure requirement by the agent to third parties no later than first substantial contact
B. case law establishing the responsibilities of a person who acts for another
C. the Code of Ethics prescribed by the local trade association
D. state license laws and statutes
case law establishing the responsibilities of a person who acts for another
Agency is a legal relationship that governs the responsibilities and obligations when one person legally acts on behalf of another. The agent acting on behalf of a principal owes the principal fiduciary duties.
#15. A buyer-client has instructed the agent to show only properties where the seller is willing to pay the buyer agent's commission. The agent contacts an owner selling a property without the assistance of a real estate agent with the hope that the seller would be willing to pay her commission if the buyer decided to purchase the seller's property. In order to comply with North Carolina Real Estate Commission Rules, the agent must do all of the following, EXCEPT:
A. obtain permission from her buyer-client in order to obtain compensation from the seller
B. disclose her agency status to the seller at initial contact
C. convince the seller to list with her and authorize dual agency
D. provide the Working with Real Estate Agents brochure to the seller
convince the seller to list with her and authorize dual agency
The buyer's representative is working for the buyer not the unrepresented seller. The licensee would need to disclose their agency status to the seller, provide the Working with Real Estate Agents brochure and have their client's permission to seek compensation from the seller. The licensee should have the seller sign a Commission Protection Agreement to pay the fee, but would remain the representative of the buyer.
#16. The listing broker tells a prospective buyer that the seller is on the verge of bankruptcy. The broker's actions are:
A. acceptable since they may promote an offer from the buyer
B. acceptable as long as the broker does not disclose any additional specific financial information concerning his client's credit history
C. unacceptable unless there are multiple offers on the property
D. unacceptable unless the seller has authorized the broker to share the information with potential buyers
unacceptable unless the seller has authorized the broker to share the information with potential buyers
A licensee must keep the financial and personal information confidential unless they are specifically authorized by their client to disclose such information.
#17. A listing agent is showing a house to a prospective buyer customer. The seller told the listing agent that during the past 10 winters, they have been unable to rid the house of rodents. The seller has hidden rodent damage by the strategic placement of a large sofa. Which of the following statements is TRUE?
A. This information may be withheld since the agent never saw any evidence of infestation or damage.
B. Disclosing the information could create a fiduciary relationship with the buyer and, thereby, create an unauthorized dual agency situation.
C. Withholding the information prevents the disclosure of a material fact.
D. Disclosing the information violates the agency duties with the seller.
Withholding the information prevents the disclosure of a material fact.
A licensee is required to disclose all material facts. A material fact is any information about the property which could affect a seller's willingness to sell or a buyer's willingness to buy. Material facts must be disclosed to both clients and customers.
#18. Which of the following BEST describes a designated agency transaction?
A. the listing firm appointing an agent to represent the seller
B. the selling firm appointing an agent to represent the buyer
C. some agents in the same firm representing buyers exclusively and other agents in the same firm representing sellers exclusively
D. a broker-in-charge appointing one agent to exclusively represent the seller as the client and appointing a different agent to exclusively represent the buyer as a client while the firm remains in dual agency
a broker-in-charge appointing one agent to exclusively represent the seller as the client and appointing a different agent to exclusively represent the buyer as a client while the firm remains in dual agency
It's only designated agency (a form of dual agency) when the same firm represents both the buyer and the seller in the same transaction and the firm has designated two different licensees to each represent the respective interests of a client.
#19. If the broker-in-charge (BIC) is to act as one of the designated agents on a North Carolina in-house transaction, which of the following may be appointed as a designated agent for the other party to the transaction?
A. an actively licensed provisional broker within the firm, so long as disclosure is made to both clients
B. a full broker within the firm who has no prior confidential knowledge of the party that the BIC will represent
C. a broker-in-charge cannot be appointed as a designated agent
D. a licensed provisional broker who has no prior confidential knowledge about the party that the BIC will represent
a full broker within the firm who has no prior confidential knowledge of the party that the BIC will represent
In order to be appointed a designated agent a licensee may not already possess prior confidential information about the client and if one of the designated agents is the BIC, the other designated agent must be a full broker.
#20. Which of the following describes designated agency in North Carolina?
A. designated agency is optional, not mandatory
B. designated agency does not eliminate dual agency
C. designated agents cannot have prior confidential knowledge of the other party to the transaction
D. all of the above
all of the above
These are all true statements about designated agency in NC. Designated agency is a form of dual agency and no firm is forced to practice designated agency, it is an optional form of agency that is permitted but not required.
#21. The North Carolina Working With Real Estate Agents brochure must be given:
A. to property owners upon initial contact
B. to all consumers prior to first substantial contact
C. only to buyers in a real estate transaction
D. to all unrepresented consumers in a sales transaction no later than first substantial contact
to all unrepresented consumers in a sales transaction no later than first substantial contact
The WWREA brochure is a mandatory agency disclosure that requires licensees and consumers to discuss, disclose and decide on agency options. It must be provided to all unrepresented consumers in sales transactions no later than first substantial contact.
#22. All of the following situations will terminate a listing, EXCEPT:
A. mutual agreement by the parties
B. breach by either party
C. death of the individual listing licensee
D. bankruptcy of the firm
death of the individual listing licensee
Employment agreement typically end with the death of the parties. However, the death of the licensee does not end the listing because the licensee is not a party to the agreement. The agreement is between the seller and the firm.
#23. A licensee is an actively licensed real estate broker who has a written contract with his firm that specifies that he will not be treated like an employee. The licensee's entire income is from sales commissions rather than an hourly wage. Based on these facts, the licensee will be treated by the IRS as:
A. a real estate assistant
B. an employee
C. a subagent
D. an independent contractor
an independent contractor
There is a specific IRS statute which states that a licensed real estate professional with whom a firm has a written independent contractor agreement and who is paid based on commissions, not hourly wages, will be considered an independent contractor.
#24. All of the following are TRUE regarding the North Carolina Working With Real Estate Agents brochure, EXCEPT:
A. the consumer is not required to sign the brochure
B. if the first substantial contact is by phone, the brochure must be provided within 3 calendar days
C. the brochure's use is mandatory in all real estate transactions, including residential sales, commercial transactions and property management
D. the brochure must be given in all sales transactions at first substantial contact
the brochure's use is mandatory in all real estate transactions, including residential sales, commercial transactions and property management
Use of the brochure is not required in property management.
#25. Jack is a NC real estate licensee. He has decided to sell his own house which he is doing outside of his brokerage as a For Sale by Owner. Jill, a prospective buyer has approached Jack at one of his open houses and has expressed an interest in buying the home. Which of the following is a proper course of action for Jack?
A. interest in the property.
B. Enter in a dual agency relationship where Jack represents himself as the seller and also represents Jill as the buyer.
C. Fully disclose his interest in the property and treat Jill as a customer.
D. Represent Jill, but do so only on a non-exclusive basis since he has an interest in the property.
Fully disclose his interest in the property and treat Jill as a customer.
As a NC licensee Jack is prohibited from representing Jill regarding any property in which he has an interest. He cannot represent Jill on any basis, must disclose his interest in the property, disclose agency to Jill and treat her as a customer.
#26. Rite Stuff Realty is a NC real estate firm that buys and flips homes. All of the homes that Rite Stuff handles are owned by the firm entity. In regard to the listing and sale of these homes, which of the following is a correct statement?
A. None of the agents of Rite Stuff may act as representatives of buyers and must treat all buyers as customers since the firm owns the properties
B. Rite Stuff must act as dual agents in the sale of their homes because they are the owners
C. The North Carolina Real Estate Commission is not concerned with whom Rite Stuff represents so long as agency is properly disclosed
D. Rite Stuff may offer exclusive buyer representation, dual agency or designated agency to prospective purchasers of their homes
None of the agents of Rite Stuff may act as representatives of buyers and must treat all buyers as customers since the firm owns the properties
When the properties are owned by the firm, none of the firm's licensees may represent a buyer and the buyer must be treated as a customer.
#27. All of the following are true of The Residential Property and Owners Association Disclosure Statement, EXCEPT:
A. It requires a seller to disclose material defects in their home prior to sale
B. It must be provided to the buyer prior to submission of an offer
C. It is intended for 1-4 unit residential properties
D. Failure to provide the disclosure form creates a 3 day right of rescission for the buyer
It requires a seller to disclose material defects in their home prior to sale
NC is not a seller disclosure state. While a seller is required to complete the form, they may answer questions by indicating "no representation."
#28. All of the following are exempt from the requirement to provide an RPOADS and MOG, EXCEPT
A. Transfers between spouses
B. First sale of a dwelling not yet inhabited
C. Both parties agree not to complete the form
D. A For Sale by Owner
First sale of a dwelling not yet inhabited
The RPOADS and MOG are required to be provided by private sellers as well as those represented by a real estate licensee
#1. A real estate listing agent advised a buyer (customer) that a property was zoned for the type of commercial use for which the buyer intended to use the property. Relying on the agent's advice, the buyer contracted to purchase the property. In making the statement regarding the zoning, the agent did not know what zoning applied to the property. The buyer subsequently learned the zoning was such that he could not use the property as he intended. Which of the following is correct?
A. The agent committed an act of misrepresentation and is liable to the buyer for any loss the buyer suffered as a consequence.
B. Since the agent did not know the true facts regarding the zoning, no misrepresentation of the property to the buyer took place; therefore the agent is not liable.
C. Since the listing agent was not representing the interests of the buyer in this case, he is not liable for his statements.
D. Commercial transactions are exempt from liability for
The agent committed an act of misrepresentation and is liable to the buyer for any loss the buyer suffered as a consequence.
#2. Misrepresentation occurs when:
A. the party making a false representation knows it to be false
B. the party making a false representation does not know if the statement is true or false, but should have known
C. the party making the false representation makes no effort to determine if it is true
D. all the above
#3. A broker is NOT held liable for misrepresentation or omission of material fact when:
A. the broker fails to disclose a defect he reasonably should have known.
B. the broker, who does not know the answer to the buyer's question, answers without regard for the facts of the situation.
C. the misrepresentation or omission was made to a buyer the broker did not represent
D. the broker was not aware of the mis-statement and there was no way he reasonably could have been expected to know.
the broker was not aware of the misstatement and there was no way he reasonably could have been expected to know
#4. A contract in which a property owner employs a broker to market her property creates an agency relationship between which of the following?
A. buyer and seller
B. buyer and broker
C. broker and seller
D. broker, seller, and buyer
#5. An agent's duties to the principal include all of the following EXCEPT:
A. loyalty
B. accountability
C. obedience
D. legal advice
#6. Which of the following is NOT an agency relationship?
A. the relationship between a sales associate and the broker with whom the associate is associated
B. the relationship between a listing broker and a cooperating broker acting as a subagent of the seller
C. the relationship between a seller's agent and a buyer's agent
D. the relationship between a seller and the listing agent
The relationship between a seller's agent and a buyer's agent
#7. A real estate broker presented an offer to the property owner during the listing term for the listed price payable in cash with no contingencies and a 10% deposit. The offer met all the terms of the listing agreement. In this situation, which of the following is correct?
A. The property owner is required to accept the offer.
B. The listing brokerage company is legally entitled to the commission agreed upon in the listing contract only if the property owner accepts the offer.
C. The property owner is not required to accept the offer but is legally obligated to pay the listing company the commission agreed upon in the listing agreement
D. The buyer can sue the property owner for damages if the owner refuses to accept the buyer's offer
The property owner is not required to accept the offer but is legally obligated to pay the listing company the commission agreed upon in the listing agreement.
#8. A broker should present:
A. all offers even if the property is currently under contract to be sold.
B. only those offers that appear to be in the seller's best interest
C. only those offers the broker knows have been property prequalified for the mortgage
D. only those offers that are for more money than the seller has indicated as his minimum for consideration
All offers even if the property is currently under contract to be sold
#9. The employment authority of the listing agreement:
A. binds the broker to the best interests of the seller
B. gives the broker authority to screen offers for the seller
C. gives the broker the authority to either sell or rent the property
D. authorizes the broker to reject any offers that the broker feels are unacceptable
Binds the broker to the best interests of the seller
#10. A listing broker has the duty to disclose to the buyer (customer):
A. the amount of the commission
B. the seller's financial status
C. the seller's reason for selling
D. structural defects
#11. Working for Beth Buyer = exclusive buyer agency, Babs Broker of ABC Realty sells Beth a house listed by XYZ Realty. Sabrina Seller pays Bab's commission through Sabrina's listing agent at XYZ Realty, Lois Lister. Which statement is true?
A. Beth Buyer = Bab's Broker's customer
B. Beth Buyer = is Lois Lister's client
C. Sabrina Seller = Lois Lister's customer
D. Beth Buyer = Bab's cient
Beth Buyer is Babs Broker's client
#12. The Residential Property Owners and Disclosure Statement (RPOADS) form must be provided to purchasers in which of the following transactions?
A. where the purchaser already occupies the property
B. where the parties agree to exempt each other from compliance
C. new construction never occupied
D. property purchased where the buyer will not be the new occupant
Property purchased where the buyer will not be the new occupant
#13. Which of the following statements is true regarding the Residential Property Disclosure Act?
A. it relieves agents of the responsibility to discover and disclose material facts regarding a property
B. Once a seller has completed the disclosure statement, he is udner no obligation to amend the statement if the condition of the property changes
C. A seller of residential property who does not complete the RPOAD may be fined $500
D. A disclosure statement should be provided to the buyer no later than the time at which an offer to purchase and contract is signed by the buyer
The disclosure statement should be provided to the buyer no later than the time at which an offer to purchase and contract is signed by the buyer
#14. Barb = agent of ABC Realty presented offer to Sandra = XYZ realty. Barb = buyers agent & Sandra = listing agent. Sandra presents a counteroffer from her seller to Barb, who contacts her buyer. 11:30am, buyer accepts the counter in Barb's presence. At 11:45am, same day, Sandra's seller receives a better offer she wants to accept and tells Sandra to w/draw counter. Sandra tells Barb before Barb can tell her of buyer's acceptance. Which is true?
A. Sandra's seller can't w/draw counter since Barb was notified of acceptance of counter
B. Sandra's seller can w/ draw counter since neither Sandra nor her seller have been notified of acceptance
C. Sandra's seller can't w/draw the counter bc it was accepted before seller received new offer
D. Sandra must provide Barb's buyer w/ an equal opportunity to match or exceed the new buyer's offer
Sandra's seller can withdraw the counter since neither Sandra nor her seller have been notified of acceptance
#15. Sally Smith and Bob Broker are duel agents at XYZ. Bob presented an offer to Sally on one of her listings. Sally presents a counter from seller to Bob, who contacts his buyer/client. At 11:30am, buyer accepts the counter in Bob's presence. At 11:45am, same day, seller receives a better offer he wants to accept and tells Sally to w/draw counter. Sally tells Bob before Bob can tell her of buyer's acceptance. Which is true?
A. Sally's seller can't w/draw counter bc acceptance in Bob's presence provides notification to the seller
B. Sally's seller can w/draw the counter bc the new offer is a better offer
C. Sally's seller can w/draw the counter bc Bob did not notify Sally of acceptance before the seller asked Sally to w/ draw counter
D. Sally must provide Bob's buyerwith an equal opportunity to match or exceed the new buyer's offer
Sally's seller can't w/draw counter bc acceptance in Bob's presence provides notification to the seller
#16. Which of the following statements is true concerning designated duel agency?
A. a BIC can be a designated duel agent if the other agent is a provisional broker under his direct supervision
B. A broker can't be appointed as a designated duel agent if the broker has prior knowledge of confidential information about the other party to the transaction
C. Only the BIC can serve as a designated agent for both parties
D. There is no provision that allows for an oral designated duel agency to exist
A broker can't be appointed as a designated duel agent if the broker has prior knowledge of confidential information about the other party to the transation
#17. Oral buyer agency:
A. is no longer permitted in NC since buyer agency agreements must be in writing from inception
B. is permitted in NC until the time an offer is presented on the buyer's behalf
C. must be converted to writing no later than the time of acceptance of an offer by the seller
D. is allowed only if the buyer agrees not to work with another agent
Is permitted in NC until the time an offer is presented on the buyer's behalf
#18. The Working with Real Estate Agents brochure:
A. must be presented at first substantial contact
B. has the same legal weight as the listing or buyer's agency contract
C. should not be used if the customer desires oral buyer agency
D. should be presented at the same time as the Offer to Purchase
At first substantial contact
#19. Designated agency is permitted:
A. only when the designated agents each work within the same office for the firm
B. as long as the designated agent does not learn any confidential information about the other agent's principal after becoming designated
C. when the listing agent is also the buyer agent and has the written consent of both parties
D. if the designated agent is not directly supervised by the other designated agent
If the designated agent is not directly supervised by the other designated agent
#20. Which type of agency agreement does NOT have to be in writing from the time of it's inception?
A. exclusive right to sell agreements
B. exclusive right to represent buyer agreements
C. non-exclusive buyer agency agreements
D. property management agreements
Non exclusive buyer agency agreements
#21. Which of the following is NOT an appropriate action for the broker to undertake when acting as a seller subagent?
A. disclosure of all known material facts even when disadvantageous to the seller
B. preparing a CMA for a buyer
C. showing the buyer some comparables of similar properties to the one listed
D. disclosing to the seller how high the buyer is willing to pay
preparing a CMA (comparative market analysis) for a buyer
#22. Which of the following must be disclosed to a buyer/customer by the listing agent?
A. the reason the seller needs to sell quickly
B. the death of the previous occupant from AIDS
C. only the material facts the seller has authorized the agent to disclose
D. all material facts including those detrimental to the seller
All material facts including those detrimental to the seller
#23. Which of the following does NOT constitute a material fact?
A. a readily noticeable crack in the foundation
B. the location of a landfill nearby the house that cannot be observed
C. pending zoning changes
D. willingness of the seller to accept a lower offer
Willingness of the seller to accept a lower offer
#24. The typical listing contract is a form of:
A. universal agency
B. general agency
C. special agency
D. free agency
#25. An agent meets prospective buyers at an open house he is holding. The buyers walk through the property but have no interest in the house because it does not serve their needs. Which of the following best describes the broker's role in this transaction?
A. broker was required to provide them a copy of the Working w/ Real Estate Agents brochure as soon as they entered the open house
B. broker was not required to provide the buyers with a copy of Working With Real Estate Agents brochure as he was considered a buyer agent already
C. broker would only have to provide the Working with Real Estate Agents brochure at the time the buyers decided to actually make an offer.
D. broker was not required to provide a copy of the Working with Real Estate Agents brochure or discuss agency alternatives with them
Broker was not required to provide a copy of the Working with Real Estate Agents brochure or discuss agency alternatives with them.
#26. Allen Agent of ABC Realty is working with Betty Buyer under an oral buyer agency agreement. He shows her a house listed by Beatrice Broker of XYZ Realty. Betty wants to buy the home. Which contract does Allen prepare first?
A. Residential Property Owners and Disclosure Statement
B. Oral Agency Conversion
C. Exclusive Right to Represent Buyer
D. Offer to Purchase
Exclusive Right to Represent Buyer