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AGENCY A

Terms in this set (13)

Howard and betty Evers listed their home with Mac Miller, a sales agent. This makes Mac's principal broker the:
LISTNING AGENT
When a seller's agent suggests an offer amount that is less than the listed price, the agent might be creating:
AGENCY BY IMPLICATION
An agent who has authority to perform all lawful acts for a principal is referred to as a(n):
UNIVERSAL AGENT
When the buyer does NOT enter into a buyer agency agreement with a broker, he is likely in a condition called:
CAVEAT EMPTOR
When the agent is hired to use his/her expertise to fulfill certain objectives of the principal the agent is a:
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:
THE LISTINING BROKER IS THE AGENT. ALL OTHER, BE THEY SALES AGENT, ASSOCIATE BROKERS OR PRINCIPAL BROKER, ARE SUBAGENTS
Under a list contract, the buyer is considered a:
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. The court ruled that the seller could not deny the fact that the agency was created in the listing. This is agency created by:
ESTOPPEL
A listing broker would be considered which of the following types of agent?
SPECIFIC
A property manager would be considered which of the following types of agent?
GENERAL
Mr. Zephyr employed a broker to make an offer to purchase Mr. Wilson's home. Mr. Zephy instructed the broker to keep his (Mr. Zephy's) identity concealed. When the broker filled in the buyer's name on the purchase agreement, he wrote, "undisclosed principal." This would make Mr. Zephy what kind of a principal transaction?
PARTIALLY DISCLOSED
A broker who represents both the buyer and the seller, having fully disclosed his agency to each and obtained written permission from both. Becomes a(n):
LIMITED AGENT
Mr. Zingle listed his property with June Jacoby , the broker of Jacob and jacoby realtors. He instructed Jacoby that he would offer sub agency to no one except the agents of Jacob and Jacoby realtors. What agency does this create?
JACOBY IS THE AGENT, HER LICENSEES ARE SUBAGENTS; AND ALL OTHERS ARE BUYERS AGENTS
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