Agency Flashcards
In which of these situations does a Nevada licensee have a disclosable ownership interest in the property?
Kennedy is representing his LLC in the purchase of a commercial building.
Nevada licensee Stephanie is in talks with a potential seller client, Renee. Stephanie is hesitant to enter into an oral brokerage agreement to list Renee’s home. Which of the following is most likely to be the source of Stephanie’s hesitancy?
Written brokerage agreements offer better protection for Stephanie and her compensation.
Illiana is a new licensee in Nevada, and she’s excited to begin working with her first-ever clients, the Markhams. In accordance with the NRED’s rules, what does Illiana need in order to create her agency relationship with the Markhams?
A brokerage agreement
Which of these Nevada licensees is acting in a role not recognized in the state?
TransactionBroker
Harold agrees to act as a transaction broker for his friend Ben, who doesn’t feel he needs to be represented when selling his home but wants assistance with the paperwork.
Ericka is selling her starter home in Pahrump, Nevada. She wants to get as much coverage as possible, so she makes verbal agreements with a couple of different agents in hopes that more listings will lead to a quicker sale. What kind of listing does Ericka have?
An open listing
When a buyer’s agent has permission to negotiate directly with a seller under the Authorization to Negotiate Directly with Seller form, what’s true about the licensee’s relationship with the seller?
The negotiation doesn’t create an agency relationship.
Which of these is NOT a licensee’s responsibility when assisting a seller client in a real estate transaction?
Review offers and steer the client toward the one with the best price and terms.
