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Real Estate Ch 12
Terms in this set (10)
1. A salesperson who collects a down payment deposit from a potential buyer must place the funds in
The hands of his broker
2. One of the most effective ways that salespersons or brokers can distinguish themselves as a preferred agent in a particular specialization of real estate brokerage is to
Obtaining a related industry designation
3. A broker, acting as the agent of a seller, must deal honestly and fairly with whom?
Everyone involved in the transaction
4. Real estate salespersons can lose their licenses for
Commingling escrow (trust) money with personal funds
5. The state real estate commission is responsible for
Establishing education requirements for licensees
6. Real estate brokers are paid commissions primarily for
Providing a service
7. A real estate broker is what type of agent for his or her principal?
8. The sub agency relationship that traditionally has characterized multiple listing services (MLS) has tended to result in the wide-spread danger of
Unintended dual agency
9. How are commission rates charged by real estate brokers determined?
By agreement between broker and principal
10. According to most listing contracts, a broker has earned a commission when
The broker finds a buyer who is ready, willing, and able to buy on the terms specified in the listing contract
THIS SET IS OFTEN IN FOLDERS WITH...
Real Estate Ch 11
Real Estate Ch 10
Real Estate Ch 13
Real Estate Ch 15
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OTHER SETS BY THIS CREATOR
Chapter 5 63
Chapter 4 63
Chapter 3 63