Before soliciting business for a brokerage office operating under a fictitious business name, the broker is not required to:
Correct Answer
C) have a broker’s license issued by the Department of Real Estate (DRE) with that name.
A broker can operate independently and supervise salespersons.
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More Laws Of Agency Fiduciary Duties Questions
A broker repeats information they received from their seller to a potential buyer. On finding the information is false, the broker is to:
A property sold for $450,000. The commission rate was 6%. If the listing broker received 60% of the total commission, how much did the listing broker receive?
If a broker wanted to avoid the possible loss of personal assets from a lawsuit against the brokerage firm as well as double taxation, the BEST form of business structure would be:
Two brokers secretly agree to charge identical commissions and divide service territories. These practices violate:
The seller states they will accept the buyer’s offer if the broker lowers their 6% commission by 25%. If the broker accepts, they will receive:
- → What are the three steps of the agency disclosure in proper chronological order?
- → A disclosure which warns a buyer they may be liable for additional tax obligations after the close of escrow is the:
- → Listing broker learns prospective buyer owes delinquent child support. Which duty requires disclosure to seller?
- → A broker who fails to promptly disclose their dual agency status is subject to:
- → When a dual agency is established in a targeted sales transaction, the broker and their agents may not pass on any information from one party to the other relating to:
- → A broker provides services to both a buyer and a seller in a transaction without disclosing their dual agency status. This is an example of:
- → A broker’s fiduciary obligation to protect a seller’s confidential information continues:
- → When taking a listing, it is appropriate for the broker to:
- → When showing a listed property to potential buyers, the listing broker is required to disclose:
- → On which type of listing contract is a broker required to state the amount of their commission is negotiable and not fixed by law?
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An individual who is not employed by the client, but has been delegated agency duties by an agent of the client, is referred to as a(n):
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Broker Chuck listed a duplex for sale from a corporate owner. After entering into the listing, the officers of the corporation die in a plane crash. What happens to the listing?