All of the following can terminate an agency relationship EXCEPT
Correct Answer
A) Lead-based paint disclosure for pre-1978 housing
Expiration, revocation, and renunciation all end agency relationships. Lead-paint disclosure is a separate transaction requirement.
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A listing agreement creates an agency relationship between:
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- → A real estate team receives a referral from a past client. The team leader assigns the referral to a team member. The team member shows the buyer several properties. Who is the buyer's agent?
- → A property manager receives a maintenance request from a tenant who reports a broken heater during winter. The property manager delays the repair for three weeks, and the tenant suffers property damage from frozen pipes. Who may be liable for the damages?
- → A real estate team consists of a team leader (licensed broker) and three licensed sales agents. A buyer contacts one of the team agents about a listing held by another team agent. What agency concern arises in this situation?
- → A property management company manages several apartment complexes. All of the following are typical duties of a property manager EXCEPT.
- → A real estate team is advertising its services. All of the following are generally required when a team advertises EXCEPT.
- → A commercial broker represents a landlord in leasing office space. During negotiations, the tenant discloses to the broker that she would pay up to $35 per square foot, even though the listed rate is $30. What must the broker do with this information?
- → A commercial property owner hires a broker to find a tenant for a 50,000 square-foot warehouse. The broker locates a suitable tenant and negotiates a 10-year lease. The owner pays the broker a commission based on the total lease value. What type of agency did the broker hold?
- → A commercial tenant is negotiating a five-year lease for retail space. The tenant hires a tenant representative broker to negotiate lease terms on the tenant's behalf. What agency relationship exists between the tenant and the tenant representative?
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Previous Question
A buyer's agent is in the middle of negotiating a purchase contract on behalf of her buyer client. Mid-negotiation, the buyer suffers a severe stroke and a probate court enters an order finding him legally incapacitated. The agent has not been appointed under any durable power of attorney. No written agreement contemplates the buyer's incapacity. The agent's authority to bind the now-incapacitated buyer ends automatically by operation of law, and the buyer's court-appointed guardian must establish a fresh agency relationship before negotiations may continue. Which doctrine ended the original agency?
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Which of the following is NOT a recognized way an agency relationship may be created?