Agency

Flashcards about Agency

If a listing agreement does not specifically authorize a broker to accept and hold an earnest money deposit on behalf of the seller, then the:

The deposit must be turned over to the seller immediately.

Acting as a dual agent without the consent of all parties is a breach of a broker's duty of:

Loyalty.

A provision in a contract of sale that obligates the purchaser to list the property with a specific broker when the property is resold is:

Both (A) and (C).

An owner desires to net $147,600 from the sale of her home. Broker Baily accepts the listing with a 6.5% commission. The list price will be?

$157,900.

The one-hundred percent commission plan means:

The salesperson receives the entire fee but pays the broker a monthly fee for office space, administrative services, and use of the broker's name.