1 of 25 - What section in a CAR Exclusive Buyer Representation Agreement states that the buyer understands that properties may be marketed online? Show
Definition of Buyer Internet Advertising; Internet Blogs; Social Media Escrow Assignment Broker Right to Compensation You answered correctly 2 of 25 - Who is ultimately responsible for a licensees business related actions? The licensee The real estate commission The brokerage franchise You answered correctly 3 of 25 - What provision in a CAR Exclusive Buyer Representation Agreement allows the broker to provide the agreement to an escrow agent, and the buyer authorizes buyer's funds from escrow to pay the agreed upon compensation? Timing of Compensation Payments and Credits The Broker Right to Compensate You answered incorrectly The Escrow Assignment section allows the broker to provide this agreement to an escrow agent, and the buyer authorizes buyer’s funds from escrow to pay the agreed upon compensation. 4 of 25 - What is a database of properties for sale and is available for all real estate agents and brokers? Index of housing GFD National home sales You answered correctly 5 of 25 - In a CAR Buyer Representation Agreement, who agrees to pay for reports, inspections, and meetings arranged by the broker on the buyer's behalf? The broker The seller The lender You answered correctly 6 of 25 - The most widely used listing agreement is the open listing. exclusive agency listing. net listing. You answered incorrectly The most widely used listing agreement is the exclusive right to sell listing agreement. 7 of 25 - A written employment agreement between a broker and a licensee must be signed by the broker. the real estate board. the licensee. You answered correctly 8 of 25 - Which of these is an advantage of an exclusive buyer agency? Earning commissions from both the listing and selling side of the business is not possible. Buyers have greater confidence that they will see all the properties available from every source. A potential conflict of interest arises if 2 clients want to make offers on the same property. The exclusive buyer broker will not take listings. You answered correctly 9 of 25 - What section, in a CA residential listing agreement, states that the seller is granting the broker the exclusive and irrevocable right to sell or exchange the property described? Listing terms Items excluded and included Compensation to broker You answered correctly 10 of 25 - In a CAR Exclusive Buyer Representation Agreement, how many days from the date of the agreement does a buyer have to provide the broker proof that he or she has the financial capability to purchase a property described in the agreement, if it's not written in the agreement? 7 10 15 You answered correctly 11 of 25 - What agreement authorizes a broker to represent a buyer or tenant in the search for a property to rent or purchase? A representative agreement A buyer compensation agreement You answered incorrectly A buyer agency or tenant representation agreement authorizes a broker to represent a buyer or tenant in the search for a property to rent or purchase. 12 of 25 - What provision, in an independent contractor agreement, includes the name of the broker and licensed real estate agent participating in the employment contract and the term of the agreement? Independent contractor relationship Obligations and duties Associates authority You answered correctly
13 of 25 - An agent who ultimately caused a buyer to purchase a home and earned the commission is called a subagent. a transaction broker. a dual agent. the procuring cause agent. You answered correctly 14 of 25 - Under Agency Relationships, in a CAR Residential Listing Agreement, if a buyer is found through the broker or associate at the brokerage, the seller agrees to allow the broker to act as a transaction broker. a listing agent. You answered incorrectly If a buyer is found through the broker or associate at the brokerage, the seller agrees to allow the broker to act as a dual agent. All disclosures must be provided if this situation were to occur. 15 of 25 - What term describes when a buyer has the right to contract with other brokers for representation in the purchase of a property during the term of the agreement? Exclusive Exclusion Agency You answered correctly 16 of 25 - A buyer's agent is held to the same standard of performance in dealing with the buyer that the listing broker is held to in dealing with the title company. lender. You answered incorrectly A buyer’s agent is held to the same standard of performance in dealing with the buyer that the listing broker is held to in dealing with the seller. There is nothing unique about the responsibility and duties of the buyer’s agent. 17 of 25 - What agreement authorizes a broker to represent an owner or landlord? A tenant representation agreement A transaction agreement You answered incorrectly An owner listing authorizes a broker to represent an owner or landlord. The most common agreement used with sellers is an Exclusive Right to Sell. 18 of 25 - What type of an agreement gives a broker the right to exclusively search for a home for a buyer and represent the buyer in the purchase? A nonexclusive representation agreement A residential purchase agreement An exclusive buyer representation agreement An open listing You answered correctly 19 of 25 - What paragraph in a CAR Residential Listing Agreement states the broker is not responsible for damage to personal or real property or persons in association with the showing and sale of the property? Seller Representations Deposit Agency Relationships You answered correctly 20 of 25 - Which section in a CAR Residential Listing Agreement contains a list of duties for the broker and seller? Seller Representations Broker's and Seller's Duties Agency Relationships Management Approval You answered correctly 21 of 25 - What section in a CAR Exclusive Buyer Representation Agreement states that the terms of an offer a buyer makes to a seller may be shared to others by the seller and/or listing agent? Confirmation Other Potential Buyers Non Confidentiality of Offers You answered incorrectly The Non Confidentiality of Offers section states that the terms of an offer a buyer makes to a seller may be shared to others by the seller and/or listing agent. 22 of 25 - Most brokers prefer working with licensees as employees. subagents. other brokers. You answered correctly 23 of 25 - In a broker-associate relationship, where a licensee is an employee, who controls the hours, schedule, and workload an agent has? The licensee The board secretary The real estate board You answered correctly 24 of 25 - Which offers is the broker required to present to the seller? The offers that are within 20% of asking price Negotiable offers Prequalified offers You answered correctly 25 of 25 - What provision, in an independent contractor agreement, states that the broker and licensee will comply with all Federal and State Fair Housing laws? Compensation Non-employment Federal Tax Purposes Indemnification You answered correctly In what section of the listing agreement would you find information regarding the beginning and ending dates for the listing?65 Cards in this Set. What is the purpose of a listing agreement quizlet?What is the primary purpose of a listing agreement? Serve as the primary contract of employment between the owner and broker. In some cases, a broker's commission can be earned if he can prove that he set into motion a series of events which resulted in the sale.
What is the most common form of listing agreement?An exclusive right to sell listing is the most widely-used listing agreement. Under this agreement, the broker has the exclusive right to market the property for a specified period of time.
What type of listing gives a broker the greatest assurance that he or she will receive compensation for his or her marketing efforts?An exclusive right to sell listing gives the broker the greatest assurance that he or she will receive compensation for his or her marketing efforts. And as a result, sellers usually see a quicker and more profitable sale of the property.
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What does the successor and/or assigns section of the residential listing agreement state?
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