chapter5 Flashcards
1
Q
Increased litigation
A
after a complaint is filed , there is an issue of nondisclosed dual agency or misrepresentation the case would go to a full trial.
2
Q
In a home sale involving 2 licensees, absent a buyer representation agreement, who do the brokers represent?
A
both the listing and the selling broker represent the seller
3
Q
General agency
A
an agency relationship exists between the broker and his/her salesperson
4
Q
Special agency
A
it is the broker who is given the task to find his client the best transaction possible
5
Q
Universal agency
A
a person or a court would give an agent full control over someone’s life and belongings to meet a specific need
6
Q
open listing
A
a seller contacts multiple brokers , which broker is able to locate a buyer first receives compensation
