Ch. 1 Unit 4: Quiz

Which of the following is true concerning a broker engaged by a tenant?

Disclose to the tenant adverse material facts of which the broker has actual knowledge.

A dual agency agreement must contain which of the following?

Disclosure of any material relationships existing between clients.

Brokerage engagement would be which of the following?

A written brokerage agreement with the client involving real estate services for valuable consideration.

A broker providing MLS listings to a tenant

Is it legal ministerial act

Which is true concerning dual agency?

It must be by written consent by all parties to the transaction.

Which of the following is true concerning Brokerage engagement requirements?

A broker may share compensation with other brokers

True concerning confidential information disclosed to the broker by a designated agent?

The broker may not share this information with their agents.

BRETTA facts that apply to the liability of brokers engaged by landlord's?

A broker does not have a duty to disclose any potential adverse facts affecting either the neighborhood or subject property

Aspects of Brokerage engagement requirements include

Broker disclosure of any potential conflicts of interest

A broker engaged by a buyer has the responsibility to

Brokers must seek a property acceptable to the terms of the buyer, Exercise still in care, comply with relations, keep confidential any information to keep confidential.

A person who is being represented by real estate broker in an agency capacity pursuant to a brokerage agreement is known as

Client

Which statement is correct concerning responsibility for discovering and divulging adverse material facts?

Obtaining information about the physical condition of the property rest with the broker, landlord and tenant.

Which is true regarding ministerial acts performed by the seller's broker for the buyer?

Performing ministerial acts for the buyer cannot be construed to form a brokerage engagement with the buyer.

True concerning broker's responsibility to the landlord.

Presenting all offers except those authorized by written consent

Which of the following duties are associated with a transaction broker?

Providing info on a property, and preparing real estate contracts and leases. Filling out a lease form with the prospective tenant.

After concluding the agency relationship, when may the broker disclose confidential information

When the client permits disclosure by word or conduct.