Barney Fletcher Practice Questions with 100%
Correct Answers
A seller wants to list the property with a broker, but wants to avoid paying any
commission should the seller be fortunate enough to sell the property himself. Which of
the following should the seller avoid signing?
An exclusive right to sell listing
Mr. Smith listed his farm with Broker Bob. Although Smith did not tell him, Bob knew
he had to sell due to poor health. What should Bob tell potential buyers?
Do not tell them even though it appears that Smith's death is imminent.
In a cooperative sale, where the listing broker and the selling broker represent the
seller, the selling broker has which of the following relationships?
Agent of the listing broker
A broker had an exclusive right to sell agency listing. In order to collect the commission,
he must:
prove he was licensed at the time of sale.
A broker estimated the property lines by stating it ran between two trees in the back
yard. After closing, the buyer found it was over six feet off. Is the broker liable?
Yes, he made a statement which he realized could be false
Smith has an exclusive listing with Broker Jones for $220,000. Jones finds a buyer who
wants representation and Jones represents both Smith and the buyer, verbally
disclosing that he is now representing both as clients. Has Jones violated license law?
Yes, because this is undisclosed dual agency
, A buyer and seller sign an agreement to change the contract to close on May 1 instead
of May 2. This is a (an):
amendment
When a person, upon payment of a consideration, has an obligation to buy land at a
fixed price within a specified period of time, his right could be described as:
a sales contract
Joan has a listing with Broker Bob. A week into the listing, Joan gets a call from Broker
Jill stating that the listing is now with her. Can this happen?
It cannot be assigned because a listing contract is a personal services contract
What type of transaction exists when there is a written contract for a broker to receive
pay from both or either party and performs only ministerial acts for one or both
parties?
Transaction brokerage
When is the correct time for the salesperson to get the proper legal description of the
seller's property?
When filling out the listing
Sue acquires an option to buy a tract of land from Pete. Which of the following is not
true?
Pete may not sell the property to anyone else during the period the option is in effect
The contract signed between a buyer and a broker is called?
Buyer's brokerage engagement
Correct Answers
A seller wants to list the property with a broker, but wants to avoid paying any
commission should the seller be fortunate enough to sell the property himself. Which of
the following should the seller avoid signing?
An exclusive right to sell listing
Mr. Smith listed his farm with Broker Bob. Although Smith did not tell him, Bob knew
he had to sell due to poor health. What should Bob tell potential buyers?
Do not tell them even though it appears that Smith's death is imminent.
In a cooperative sale, where the listing broker and the selling broker represent the
seller, the selling broker has which of the following relationships?
Agent of the listing broker
A broker had an exclusive right to sell agency listing. In order to collect the commission,
he must:
prove he was licensed at the time of sale.
A broker estimated the property lines by stating it ran between two trees in the back
yard. After closing, the buyer found it was over six feet off. Is the broker liable?
Yes, he made a statement which he realized could be false
Smith has an exclusive listing with Broker Jones for $220,000. Jones finds a buyer who
wants representation and Jones represents both Smith and the buyer, verbally
disclosing that he is now representing both as clients. Has Jones violated license law?
Yes, because this is undisclosed dual agency
, A buyer and seller sign an agreement to change the contract to close on May 1 instead
of May 2. This is a (an):
amendment
When a person, upon payment of a consideration, has an obligation to buy land at a
fixed price within a specified period of time, his right could be described as:
a sales contract
Joan has a listing with Broker Bob. A week into the listing, Joan gets a call from Broker
Jill stating that the listing is now with her. Can this happen?
It cannot be assigned because a listing contract is a personal services contract
What type of transaction exists when there is a written contract for a broker to receive
pay from both or either party and performs only ministerial acts for one or both
parties?
Transaction brokerage
When is the correct time for the salesperson to get the proper legal description of the
seller's property?
When filling out the listing
Sue acquires an option to buy a tract of land from Pete. Which of the following is not
true?
Pete may not sell the property to anyone else during the period the option is in effect
The contract signed between a buyer and a broker is called?
Buyer's brokerage engagement
