Chapter 7: Assignment Flashcards
Which of the following correctly describes when the issue of agency relationships should be discussed with a buyer client?
Once you establish meaningful contact, before you seek any personal information, and before you qualify the buyer.
Jill has placed her home for sale. Chris, her listing salesperson, receives an offer from an interested buyer, and arranges a meeting with Jill to discuss it. Which of these options is not available to Jill?
Jill can make a counter offer and if the counter offers not accepted, accept the original offer.
Which of the following correctly describes 3 types of obligations owed in buyer agency?
Fiduciary, contractual, and tort.
In a for sale by owner scenario, a buyers sales person should:
Always treat the seller as a customer, without obligating the buyer’s agent to any agency obligations to the seller.
Which of the following is not one of the items the buyer’s brokerage agrees to do in the exclusive buyer’s brokerage contract?
To decide the purchase price that the buyer will offer for a property, after consultation with the buyer.
Which of the following statements about ancillary services in the purchase of residential real estate is false?
Ancillary services refer to those inspection and testing services that are not included as part of the agency relationship, but that the registrant is licensed to perform.
Which of the following statements about deposits is true?
Deposits are forfeitable if the buyers default on the transaction after all conditions are removed.
A buyer’s agent must treat the seller as a(n)___________
Customer
Which of the following correctly describes the selling process, from beginning to end?
Prospecting; qualifying; presenting; closing; following up.
To avoid being liable for negligent misrepresentation, a skilled person or expert who gives advice in the course of their business has 3 choices. Which of the following is not one of them?
They can give advice with no qualification or disclaimer of liability, but not an opinion, as the latter must always be accompanied by qualification or disclaimer of liability.
