Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Generally an agent works for the | principal
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| A minor | is anyone younger than 18 years of age
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| someone appointed to carry out a particular transaction is a | Special Agent
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| an independent contractor is distinguished by | responsibility for Social Security and other payments
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| , the California real estate law treats a real estate salesperson as a | employee of the broker
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| a salesperson is a brokers | agent
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| an agency agreement to perform an act that requires a writing | must itself be in writing
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| to be enforceable, all real estate sales contracts | must be in writing
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| As a contract, a real estate agency agreement | must meet the requirements for a valid contract
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| Real estate commission rates | are not fixed by law
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| all real estate agency agreements must | be in writing
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| the most commonly used form of real estate listing agreement is the | Exclusive authorisation and right to sell listing
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| A real estate agent owes duties to | the principal, the third person, the sub agent
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| the agent is the principle of the duty of | loyalty
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| a real estate agent must make full disclosure of | material facts that are known by the agent or that would be revealed by a reasonable inspection of the property
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| the principal owes the agent | the duty of care
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| a real estate seller must disclose | material facts concerning the property's value or desirability
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| exaggerating a property's value or desirability | is never permitted
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| the recovery account is available to | people victimized by a real estate licensee
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| an agency relationship may not be terminated by | someone outside the agency relationship
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Created by:
Bpacker909