Chapter 20: Ethics; Laws and Practices Flashcards
The principal theme of federal fair housing laws is to…
Prohibit discrimination in housing transactions
It is illegal to discriminate and selling a house based on race, color, religion, or national origin. This is provided for through…
The civil rights act of 1968
Which of the following laws are rulings extended discrimination to include gender, handicap status, and family status?
The fair housing amendments act of 1988
An agent informs numerous families in the neighborhood that several minority families are planning to move into the immediate area, and that the trend could have adverse effects on property values. This activity is…
Blockbusting
A minority family would like to buy a home in a certain price range. The agent shows the family all available properties in the neighborhood of families with similar backgrounds. The agent did not mention a number of homes in the families price range in other neighborhoods. This agent could be liable for…
Steering
An agent does not like a particular minority buyer, and is very short with a person, refusing to engage in lengthy conversation or show him any properties. The second minority party visits the office the next day. The agent is very forthcoming and shows the person five perspective properties. This agent could be liable for…
Providing unequal services
Following the client’s recommendation, an agent conceals the availability of a property from an employed but pregnant and unmarried minority woman. This agent could be liable for…
Discriminatory misrepresentation
Condominium complex prohibits ownership of any unit by persons under 55 years of age. The association claims it has made the prohibition properly. Which of the following is true?
The prohibition may be legal
An owner suddenly pulls a property off the market after hearing from the agent on the phone that the agent had received a full price offer for my name minority party. The agent then informs the offer that the home has been removed from the market and is unavailable. Which party or parties, if any, have violated fair housing laws?
The agent and the owner
Real estate trade associations promote a code of ethics primarily to establish…
High standards of practice for all facets of the business
The parts of the Americans with disabilities act that most concerned real estate agents are those that deal with…
Public accommodations and employment
If a licensee knows a negative material fact about a client’s property that the client has not disclosed, the licensee must…
Disclose the information to others
How does CERCLA concern real estate agents?
It may cause them to be held liable for improper disclosure of potential violations
Which of the following is a fact about home warranties that an agent should be sure a client knows?
Conditions that preexisted the coverage date of the warranty will not be covered
What is an agent’s duty regarding inspections?
Disclose the result of any inspection, if known to the agent
