WI Real Estate Salesperson questions with correct answers

Which of the following statements INCORRECTLY describes a multiple representation relationship? A: The firm owes both parties the duty of confidentiality. B: A firm must disclose multiple representation to all parties in writing. C: The firm owes loyalty to the party who first signed an agency agreement with the firm. D: All parties must consent in writing to a firm representing multiple parties in a transaction. CORRECT ANSWER C: The firm owes loyalty to the party who first signed an agency agreement with the firm. Wis. Stat. § 452.134 If a firm's client in a multiple representation relationship does not consent to designated agency or withdraws consent to designated agency, the firm and any licensees associated with the firm may not place the interests of any client ahead of the interests of any other in the negotiations. Which of the following describes the relationship when a seller lists a property with a firm? A: The seller is the firm's customer B: The firm is the selling firm C: The seller is the firm's client D: The seller is a fiduciary of the firm CORRECT ANSWER C: The seller is the firm's client The listing contract is an agency agreement, making the seller the firm's client.