NYS Real Estate U Chapter 2 Exam 2: Questions & Answers: Latest Updated: Guaranteed A+ Score

What happens if any of the principals in a transaction refuse to grant consent to dual agency...? A. The buyer must find a new agent B. The parties cannot proceed with dual agency C. The seller must find a new agent D. The transaction can close nonetheless (Ans- B. The parties cannot proceed with dual agency According to an Exclusive Right to Sell agreement, what price is listed in the agreement...? A. The Sale Price B. The Listing Price C. The Fair Market Value Price D. The price as determined by an appraisal (Ans- B. The Listing Price When agents from the same brokerage firm represent both the buyer and the seller, what type of agency is created...?A. Single Agency B. Cooperative Agency C. Implied Agency D. Dual Agency (Ans- D. Dual Agency Michael, a real estate broker, is hesitant to enter into a dual agency arrangement as he may compromise this fiduciary duty...? A. Loyalty B. Confidentiality C. Reasonable Care D. Obedience (Ans- A. Loyalty