Chapter 4 - Authorized Relationships, Duties And Disclosure Flashcards
What type of agent usually has the power of attorney?
A universal agent
Which of the following are not residential property as defined by Florida law?
A five unit apartment house
Which agency is not allowed under Florida law?
Dual agency
An agency relationship is created in which of the following cases
When the seller asked to be represented in the broker agrees
Which form must be given to the buyer is a sales associate is working with them in a fiduciary capacity
The single agent notice
What is the person who is empowered to act on behalf of another called?
An agent
Which is not true about Florida real estate disclosure law
Disclosure paperwork only needs to be kept by a broker for three years
What are the laws governing agency laws known as?
Law of agency
When a broker represents a seller as a single agent on the sale of a home, and a buyer wants the same broker to act on his behalf in the purchase of the same home, and the broker agrees, without any further notice to the seller, which of the following is true?
The broker is acting illegally since undisclosed dual agency is not permitted in Florida
If a listing sales associate shows the property to a ready, willing and able buyer, what is he not permitted to do?
None of the above….
(Not permitted to give the buyer a consent to transition to transition broker form and get on with the sale
Also not permitted to disclose to the buyer, all material facts that will affect the value of the property
As well as not permitted to promptly tender to the seller any contract offers that have been offered unless advised in writing not to do so)
