Questions and Answers 100% Pass
6 things a licensee cannot do without a written buyer agency agreement - ✔✔1) Ask the
buyer to disclose confidential information
2) Express an opinion or give advice about particular real esate
3) Physically show the buyer an in-house listing
4) Physically show the buyer a property listed with anither firm
5) discuss an offer with the buyer
6) Engage in any verbal or written negotiations concerning purchase price, terms, or
conditions
The one exception where a licensee can perform duties for a buyer without a written
buyer agency agreement - ✔✔The licensee is going to represent the buyer with an
agency disclosure notice stating that the licensee represents the seller
Where would you get a list of hazardous waste conditions and properties on which
shooting and hunting takes place - ✔✔Town clerk office
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, What is the name of the list in where hazardous waste conditions and properties in
which hunting takes place would be found - ✔✔Energy and Environmental Protection
lists
How many members make up the commission? How many brokers and how many
licensed salespeople? - ✔✔8 members. Three brokers and two licensed salespeople.
Who collects licensing fees and who are they deposited with? - ✔✔The commission
collects licensing fees and deposits them with the state treasurer to become part of the
general fund.
A licensee CAN do the following without entering into an agency relationship - ✔✔1)
give the buyer property information
2) give the buyer information on the licensee's firm
3) give the buyer information on mortgage rates and institutions
What constitutes "negotiation" - ✔✔-Showing the buyer any property
-Discussing an offer with the buyer
-Engaging in negotiations on behalf of the buyer
- Giving advice to the buyer about a particular property
Before a licensee works with a buyer a licensee should take these three steps: - ✔✔1)
Ask whether the buyer is currently represented by another firm
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