PRINCIPLES 1 REAL LATEST
ESTATE CHAMPION
SCHOOL
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Client - ANSWERS-An agreement with broker and agency
QUESTION 2
Intermediary Relationships - ANSWERS-Broker reps both the buyer and seller
Broker remains neutral and avoids negotiating. The broker must first get written
consent of both parties
QUESTION 3
Intermediary with appointments - ANSWERS-The appointed associate will give
advice and opinion (which means negotiate) to their respective parties. The broker
must make the appointments in writing using the Intermediary Relationship Notice
QUESTION 4
END OF
PAGE
1
, PRINCIPLES 1 REAL LATEST
ESTATE CHAMPION
SCHOOL
Intermediary without appointments - ANSWERS-Agent will have the opportunity
to sell their own listing
QUESTION 5
Disclosure of Representation - ANSWERS-At first contact with a party to a
potential transaction a license holder must disclose to that party whom they
represent (orally or in writing at 1st contact)
QUESTION 6
IABS (Information about Brokerage Services) - ANSWERS-Provides customers
with information regarding agency relationships with licensees. All potential
parties to a transaction must be provided with the IABS at the first substantive (any
information given that is not easily accessed by public records) discussion. A
substantive discussion doesn't always occur at the first face-to-face meeting. Form
is signed prior to listing or showing of properties
QUESTION 7
Federal Fair Housing Laws - ANSWERS-Housing should be available to all on an
equal basis, subject only to the purchaser's ability to pay (Age is not a protected
category under this law)
END OF
PAGE
2
ESTATE CHAMPION
SCHOOL
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Client - ANSWERS-An agreement with broker and agency
QUESTION 2
Intermediary Relationships - ANSWERS-Broker reps both the buyer and seller
Broker remains neutral and avoids negotiating. The broker must first get written
consent of both parties
QUESTION 3
Intermediary with appointments - ANSWERS-The appointed associate will give
advice and opinion (which means negotiate) to their respective parties. The broker
must make the appointments in writing using the Intermediary Relationship Notice
QUESTION 4
END OF
PAGE
1
, PRINCIPLES 1 REAL LATEST
ESTATE CHAMPION
SCHOOL
Intermediary without appointments - ANSWERS-Agent will have the opportunity
to sell their own listing
QUESTION 5
Disclosure of Representation - ANSWERS-At first contact with a party to a
potential transaction a license holder must disclose to that party whom they
represent (orally or in writing at 1st contact)
QUESTION 6
IABS (Information about Brokerage Services) - ANSWERS-Provides customers
with information regarding agency relationships with licensees. All potential
parties to a transaction must be provided with the IABS at the first substantive (any
information given that is not easily accessed by public records) discussion. A
substantive discussion doesn't always occur at the first face-to-face meeting. Form
is signed prior to listing or showing of properties
QUESTION 7
Federal Fair Housing Laws - ANSWERS-Housing should be available to all on an
equal basis, subject only to the purchaser's ability to pay (Age is not a protected
category under this law)
END OF
PAGE
2
