CHP 18 - Agency Relationships & Disclsoures Flashcards
1
Q
Most common form of agency
A
Seller agency
2
Q
Single Agency
A
Rep one party to teh transaction
3
Q
What terminates agency relationship
A
1 performance
2 expiration
3 termination of relationship by mutual agreement
4 term by one party
4
Q
Types of Agency Relationships
A
1) Single agency
2) Consensual Dual agency
3) Seller/Landlord agency
5
Q
Commercial real estate transaction compensation
A
retainer
6
Q
When does a seller agree or disagree to subagency
A
When signing listing contract
7
Q
Advantage to subagency
A
easy way for co-op broker to share in commission
8
Q
How does a buyer’s a gent receive compensation
A
- Seller pays
- Buyer pays flat fee
- Agency receives a retainer
