Under California Civil Code §2079.13, a 'listing agent' is defined as an agent who has entered into a written contract with which party?
Correct Answer
A) The seller
Under California Civil Code §2079.13(a), a listing agent is defined as a real estate agent who has entered into a written listing agreement with the seller to act as the seller's agent in a real estate transaction.
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More Laws Of Agency Fiduciary Duties Questions
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?
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):
What are the three steps of the agency disclosure in proper chronological order?
An agent needs to disclose a conflict of interest to the affected parties when a principal or service provider in the transaction is the agent’s:
When showing a listed property to potential buyers, the listing broker is required to disclose:
- → A broker who simultaneously represents the best interests of both opposing parties in a transaction is known as a(n):
- → On which type of listing contract is a broker required to state the amount of their commission is negotiable and not fixed by law?
- → Broker fees deposited with the broker before they are earned are called:
- → A real estate broker is subject to disciplinary action from the Department of Real Estate (DRE) if they:
- → 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:
- → When a broker wants to store documents electronically, the storage method may not allow the final documents to be altered. What method of electronic document storage is required by the Department of Real Estate (DRE)?
- → A broker receives a full price offer on a house they are listing. Before they present the offer to the seller, another broker brings in an all cash offer for $5,000 less. The listing broker is to:
- → A seller’s broker needs to disclose:
- → 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?
- → If a 16-year-old emancipated minor wishes to sell real property, their broker may:
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Brokerage fee provisions which may be included in a seller’s exclusive right to sell listing agreement include:
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A California buyer contacts a listing agent directly at an open house and asks the agent to write an offer on the property. The buyer has not signed a buyer representation agreement with any agent. Under California law, who does the listing agent represent in this transaction?