Intermediary Brokerage

Question 1

Which of the following is something that an intermediary is allowed to disclose?

Answer 1

NEITHER OF THESE ARE CORRECT

• the max price a buyer will pay
• the lowest price the seller will accept

Question 2

When was statutory dual agency in Texas fully replaced by intermediary brokerage

Answer 2

1996

Question 3

Before any appointments of licensees can be made, the broker who is acting as the intermediary must receive…

Answer 3

The written permission of both the buyer and seller to appoint licensees.

Question 4

When one or both parties to a transaction are represented by the same agent, it may create a situation of:

Answer 4

Undisclosed dual agency.

Question 5

A 1031 exchange

Answer 5

Allows a taxpayer to defer taxes on a real estate transaction in certain circumstances

Question 6

A real estate syndication:

Answer 6

Is a group of investors who pool resources to invest in an opportunity.

Question 7

If a broker is also the principal in a sales transaction:

Answer 7

the other parties to the transaction should be made aware of this.

Question 8

What is the term for the type of agreement that is formed when the parties did not establish an expressed agreement but act in all ways as if an expressed agreement exists.

Answer 8

Implied-in-fact

Question 9

A designated agency arrangement must involve:

Answer 9

two agents with the broker supervising the designated agencies as an intermediary.