Maria is a Connecticut licensed salesperson who has been representing a seller under a valid listing agreement. Several events occur during the listing period. All of the following would automatically terminate the agency relationship EXCEPT:
Correct Answer
A) The seller's supervising attorney advises the seller to consult a different real estate firm.
An attorney's advice to consult a different firm is not itself a legal event that terminates an agency; the listing remains in force until the seller takes affirmative action. The other three events (destruction of the property, license revocation, and death of the principal) all terminate the agency automatically by operation of law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
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Under agency law in Nevada, dual agency is:
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- → How is implied agency most commonly created?
- → Under current Illinois agency law, which of the following statements is NOT accurate?
- → Information about the lowest price a seller will accept is:
- → New Jersey continuing education requirements include:
- → Virginia continuing education requirements for salespersons include:
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- → An exam-prep coach in Mooresville is sorting out a file issue involving WWREA at first substantial contact. Which statement best applies under current North Carolina law?
- → Maryland real estate licensees are regulated by the:
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