An agent tells a prospect that a condo is 'the best value in town' and 'absolutely charming.' What is that type of statement usually called?
Correct Answer
B) Puffing
Puffing is correct because the facts match an opinion or sales talk that is not a factual representation of material property condition. That is the best description of the relationship, right, or legal concept tested here.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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A listing agreement creates an agency relationship between:
A property management agreement between an owner and a property manager typically specifies which of the following?
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A buyer's agent compensation can be structured as:
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- → A property manager signs a lease on behalf of the property owner. The management agreement authorizes the manager to execute leases for terms up to one year. The manager signs a three-year lease with a commercial tenant. What is the likely consequence?
- → A property manager discovers that a rental unit has a significant mold problem. The manager repairs the visible mold but does not inform the property owner about the extent of the damage or the potential liability. Has the property manager violated any agency duty?
- → The minimum requirement for real estate professional advertising is:
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- → An agent with complete legal authority to act for a principal in all matters is a:
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