Module 4 Flashcards
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Kathryn is holding an open house for one of her listings. When should she give an agency disclosure form to visitors to the open house?
At first contact after determining whether the guest is not represented by another licensee
Sam Gough wants to rent out his home, but wants to exclude families with children because of his belief that they cause damage. Under what conditions would federal fair housing laws allow Gough to rent on these terms?
It is a single-family house, and the owner owns only one other rental home in addition to his own residence.
All written offers are to be tendered to the seller
Promptly
If a note is taken as an earnest money deposit, the note should be payable
upon the seller’s acceptance
A listing broker receives authority to accept an earnest money deposit in the
listing agreement
The area of agent activity where there is the greatest risk of failing to maintain client confidentiality is
the agency relationship
The classes protected against discrimination by the Fair Housing Act of 1968 are
race, color, religion, and national origin
The ABC Brokerage Firm specializes in rental properties. The firm
1. elicits the race of persons who make telephone inquiries in order to facilitate matching the prospect with apartments in neighborhoods of the caller’s race. 2. requires families with children to pay an extra fee for a cleaning deposit, which is not required for tenants without children.
Which of the practices, if any, is unlawful under the federal Fair Housing Act?
Both 1 and 2
If a commercial real estate market is under-supplied, it is likely that
rental prices in that market will rise.
Which of the following is a common risk relating to the agency relationship?
Failing to inform and disclose properly
Which of the following is an example of blockbusting?
An agent persuades a family to put their house on the market because ethnic minority families are beginning to move into the neighborhood. An agent persuades a minority home buyer to buy a property located in an area where most of the home owners belong to minority groups. An agent persuades a minority home buyer to avoid looking in a neighborhood where there are no minority home owners. An agent shows a minority home buyer properties located in a neighborhood where there are no other minority home owners.
An agent persuades a family to put their house on the market because ethnic minority families are beginning to move into the neighborhood.
A prospective buyer should be given a copy of the offer
as soon as the prospective buyer signs the offer
An offer to purchase is terminated by:
A. rejection by the offeree. B. a counter offer. C. revocation by the offeror.
A, B, and C
The Wallaces, a minority family, would like to buy a home in a certain price range. Agent Ambrose shows the family all available properties in a neighborhood of families with similar backgrounds. Ambrose does not mention a number of homes in the family’s price range in other neighborhoods. This agent could be liable for
Steering
Steering
S t e e rin g is t h e ille g al p r a c tic e o f limitin g c u s t o m e r s’ c h oic e s b y e n c o u r a gin g o r discouraging them about the suitability of an area and directing them only to areas the agent deems suitable for them.
