Agency relationshi Study guides, Class notes & Summaries

Real Estate Final Exam (150 Questions) #1 100% Correct Answers 2023 A real estate licensee has a buyer agency agreement. What is the seller in this situation? A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? He must exercise his option under the terms of the option contract. When can a landlord evict a disabled blind or disabled tenant from the premises? If the te...

lesson 7, The Agency Relationship and Agency Law

Agency Legal relationship where one party allows someone else the powers to act for them or on their behalf in some manner or capacity" Vicarious liability (Respondent Superior) refers to the responsibility one individual has for the acts of another In the real estate business, this would be the case when a listing or buyer's broker is an "agent" of the seller or buyer It also means that as an agent, we share or have the same intents as our principals For real estate relationship...

Agency Relationships and Contracts

Authority of Agent - Answer- 1. Agency by Actual Authority 2. Ostensible Agency 3. Agency by Ratification 4. Agency by Estoppel 5. Agency Coupled with an Interest Agency by Actual Authority - Answer- exists when an individual grants express authority to the agent to perform some act Oral or Written Actual Written: Listing Agreement Actual Oral: unwritten buyer representation agreement Ostensible Agency - Answer- actions lead another person to assume that one is an agent Age...

FL Real Estate Associate Exam Practice Questions 1. Agency relationship in Florida with the fewest duties/obligations:: Non-representation broker 2. If Jackson has no fiduciary duty and offers no representation whatsoever to the buyer or the seller in a transaction, Jackson is a:: Non-representation broker 3. Entity that determines and issues the final order in a disciplinary case constituting the finale agency action?: FREC 4. Circumstance when broker serving as an intermediary can collec...

principal - ANSWERSthe client of a broker in an agency relationship; the parties to a contract in a real estate transaction (as opposed to license holders, lenders, escrow agents, etc.); also, the amount borrowed in a loan from which interest is accrued client - ANSWERSsomeone who has entered an agency relationship with a license holder; also known as a principal customer - ANSWERSan individual with whom a license holder has no agency relationship nor fiduciary duties but to whom fairness ...

Chapter 13. The Agency Relationship

Types of agency relationships

AZ Real Estate Exam 2022 #15 AGENCY RELATIONSHIPS QUESTIONS AND ANSWERS 2024