Agency Contracts
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| show | A principal-agent relationship in which the broker is the agent for the buyer, with fiduciary responsibilities to the buyer. The broker represents the buyer under the law of agency.
🗑
|
||||
| show | A comparison of the prices of recently sold homes that are similar to a listing seller's home in terms of location, style, and amenities; an estimate of market value.
🗑
|
||||
| show | Formal employment between employer & employee, principal & agent. In real estate, listing agreement, buyer agency agreement or management agreement.
🗑
|
||||
| exclusive-agency listing | show 🗑
|
||||
| show | One broker is appointed as sole agent of the seller and is given the exclusive right, or authorization, to represent the property in question
🗑
|
||||
| extender clause or Override Clause | show 🗑
|
||||
| show | An employment contract between a property owner and a real estate firm/broker by which the broker is employed to find a ready, willing and able buyer for the owner's real estate on the owner's terms, for which service the owner agrees to pay a commission.
🗑
|
||||
| MLS | show 🗑
|
||||
| show | A listing based on the net price the seller will receive if the property is sold; broker can offer property at highest price to increase the commission.
🗑
|
||||
| show | A listing agreement under which the broker's commission is contingent on the broker personally producing a ready, willing, and able buyer before the property is sold by the seller or another broker.
🗑
|
||||
| Override clause | show 🗑
|
||||
| show | The effort that began a chain of events that brings about the desired result. Under an open listing, the broker who is the procuring cause of the sale receives the commission.
🗑
|
||||
| show | Used to guarantee a broker a commission if that particular property is sold to a specific buyer. Same as Override clause.
🗑
|
||||
| puffing | show 🗑
|
||||
| show | A buyer who is financially qualified, prepared to buy on seller's terms, and ready to take positive steps toward consummation of the transaction by showing willingness to enter into an enforceable contract.
🗑
|
||||
| retainer fee | show 🗑
|
||||
| success fee | show 🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
whitwill
Popular Real Estate sets