Howard and Betty Evers listed their home with Mac Miller, a sales agent. This makes Mac's principal broker the:
A. selling agent
B. listing agent
C.
... [Show More] selling subagent
D. listing subagent
B. listing agent
When a seller's agent suggests an offer amount that is less than the listed price, the agent might be creating:
A. agency by estoppel.
B. agency by ratification.
C. agency by implication.
D. agency by express consent
C. agency by implication.
An agent who has authority to perform all lawful acts for a principal is referred to as a(n):
A. special agent
B. agent by estoppel
C. general agent
D. universal agent
D. universal agent
When the buyer does NOT enter into a buyer agency agreement with a broker, he is likely in a condition called:
A. ratification
B. estoppel
C. caveat emptor
D. lis pendens
C. caveat emptor
When the agent is hired to use his/her expertise to fulfill certain objectives of the principal the agent is a:
A. Specific agent
B. Undisclosed agent
C. Universal agent
D. General agent
D. General agent
An offer is brought to a seller from a brokerage who did not take the listing. Assuming there is no buyer agency contract, and the MLS listing offered subagency, which best describes the agency relationships:
A. The listing broker and his sales agents are the agents; brokers and agents from other offices are subagents.
B. The listing broker and the selling broker are agents, and all sales agents from either office are subagents.
C. The listing broker is the agent. All others, be they sales agents, associate brokers or principal brokers, are subagents.
D. All brokers and sales agents involved in the transaction are agents, regardless of which office they work for.
C. The listing broker is the agent. All others, be they sales agents, associate brokers or principal brokers, are subagents.
Under a listing contract, the buyer is considered a:
A. principal
B. agent
C. client
D. customer
D. customer
The seller became angry with the listing broker and refused to pay the commission, stating he didn't like the broker, so she was no longer his agent. The broker sued the seller and the court ruled in favor of the broker (oh, happy day!). The court ruled that the seller could not deny the fact that the agency was created in the listing. This is agency created by:
A. estoppel
B. implication
C. statute
D. ratification
A. estoppel
A listing broker would be considered which of the following types of agent?
A. General
B. Specific
C. Bilateral
D. Universal
B. Specific
A property manager would be considered which of the following types of agent?
A. General
B. Specific
C. Unilateral
D. Universal
A. General
Mr. Zephyr employed a broker to make an offer to purchase Mr. Wilson's home. Mr. Zephyr instructed the broker to keep his (Mr. Zephyr's) identity concealed. When the broker filled in the buyer's name on the purchase agreement, he wrote, "Undisclosed principal." This would make Mr. Zephyr what kind of a principal in this transaction?
A. Fully disclosed
B. Partially disclosed
C. Partially undisclosed
D. Undisclosed
B. Partially disclosed [Show Less]