Fl Real Estate Agency

Question 1

Ostensible Agency

Answer 1

The actions of an individual lead a third party to believe agency exists and no effort is made to correct the impression.

Question 2

Agency by Estoppel

Answer 2

where a person appears to be an agent of a specific entity (person or company) performing representation or transactions.

Agency imposed by law as a result of the existence of ostensible agency

Question 3

Agency imposed by law as a result of the existence of ostensible agency

Answer 3

an individual or agent from escaping liability by claiming (after the fact) that agency never existed

Question 4

The “No brokerage” duties

Answer 4

DAD

Deal honestly and fairly.

Account for all funds entrusted to the licensee.

Disclose all known facts that materially affect the value of residential real property (which are not readily observable to the buyer).

Question 5

Transaction Broker

Answer 5

DAD +

Employ Skill, care, and diligence

Present all Offers and counteroffers

Exercise limited Confidentiality

Fulfill any Additional mutually agreed-upon duties