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what does a licensee owe a client besides loyalty, confidentiality, obedience,
accounting, disclosure - ✔✔Reasonable care
Do you have to work with a buyer that wants to remain a customer? - ✔✔YES
buyer representation agreement - ✔✔an agent/broker represents a client
preliminary activities definition - ✔✔information you can give without entering a
buyer representation agreement
what are the 6 preliminary activities - ✔✔1. Ask if the customer is being represented
2. offices policy on the various relationships: single agency, dual agency, designated
agency
3. tell the buyer not to give you confidential information
4. property info
5. info on the firm
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, 6. info on mortgage rates/lending institutions
Agency Disclosure Notice - ✔✔a notice for unrepresented persons that say the buyer
is just a customer
What does the Agency Dislcosure Notice allow - ✔✔1. customer can give confidential
info
2. Agent can give an opinion on real estate (be cautious)
3. physically show listings
4. discuss an offer with the buyer
5. engage in negotiations on the buyer's behalf (written or oral)
what do you need to have a listing agreement with a client - ✔✔1. in writing
2. identify property
3. terms and conditions
4. commission
5. start date
6. expiration date
7. principals signature
8. broker's signature
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