Chapter 3 Flashcards
A broker will be paid a full listing fee on the further leasing of the listed property without the broker’s consent when a(n) ____________________ is included in the listing agreement.
a. withdrawal-from-sale clause
b. termination-of-agency clause
c. exclusive right-to-sell clause
d. None of the above.
A
A broker can require a seller to relist with them if the seller decides to sell within the cancellation period.
a. True
b. False
B
The safety clause period commences on:
a. the expiration of a listing agreement by its own terms.
b. a seller’s termination of the agency before the listing period expires.
c. a seller’s withdrawal of the property from the market before the listing period expires.
d. Any of the above.
D
A properly worded and perfected safety clause is enforceable:
a. only when a seller relists with the original agent.
b. only in a seller’s listing.
c. even when a seller relists with another broker.
d. None of the above.
C
The price agreed to in a purchase agreement is based on the property conditions “as disclosed.”
a. True
b. False
A
A broker needs to keep all advance cost accounting records for at least:
a. one year.
b. three years.
c. five years.
d. ten years.
B
Placing a “For Sale” sign ___________ is a misdemeanor public nuisance.
a. on private property with the owner’s permission
b. on public property with the city’s permission
c. Both a and b.
d. Neither a nor b.
D
Special agency duties owed to a buyer by a broker arise when the broker enters into an exclusive right-to-buy listing agreement with the buyer.
a. True
b. False
A
The exclusive right-to-buy listing agreement is the agent’s offer to render services for a fixed period of time.
a. True
b. False
A
A cooperating broker is used as the title for:
a. the exclusive agent of the seller.
b. the subagent of the seller.
c. the exclusive agent of the buyer.
d. None of the above.
B
