Brokerage Relationships

Question 1

Broker selling broker property is what kind of listing (broker procuring cause)

Answer 1

Open

Question 2

Rental referrals must not exceed how much?

Answer 2

$50

Question 3

Agent wants a commission no matter who sells the property. What type of listing is necessary

Answer 3

Exclusive right of sale

Question 4

Broker duties as a transaction broker

Answer 4

Limited confidentiality 
Accounting 
Skill
Care
Diligence

Question 5

Seller listed with only one broker and has retained the right to find the buyer without paying commission. What type of psi taking is this?

Answer 5

Exclusive agency

Question 6

What is required in single agency but not transaction broker relationships

Answer 6

Full disclosure

Question 7

Type of broker that works in a capacity of limited representation for the buyer, seller, or both

Answer 7

Transaction Broker

Question 8

Owner selling with broker states they want $62k after commission. If broker can keep all money above $62k, what kind of listing is this?

Answer 8

Net Listing

Question 9

Money can be placed in an interest bearing account only if…

Answer 9

All parties agree on the disposition of interest