Under Washington's Law of Real Estate Agency (RCW 18.86), which term describes the entry-level licensee who represents a buyer in a real estate transaction?
Correct Answer
B) Broker working under a designated broker
Under RCW 18.85, Washington uses the license category of 'Broker' for entry-level licensees. A broker must work under the supervision of a designated broker and may represent buyers or sellers in transactions. This is distinct from most other states that use the term 'salesperson' for entry-level licensees.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
- → In Vermont, a licensee has substantial contact with an unrepresented person before a showing. Which statement is correct?
- → In Vermont, a firm has not elected designated agency. Which statement is correct?
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- → In Vermont, a seller receives another offer before closing. Which statement is correct?
- → In Vermont, a designated agency firm appoints or changes a designated agent. Which statement is correct?
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