Real Estate Chapter 6 Quiz

An open listing

A nonexclusive Listing agreement is also known as

Principal

A real estate broker works for the

Loyalty

One of the MOST important duties of agent to principal is the duty of

Known as Dual Agency

When an agent represents both the buyer and seller in the same transaction, this action is

Power of attorney (aka) P.O.A.

An agent is authorized to act in place of the principal by a

Duty of disclosure

An agent owes which of the following to a third party

An independent Contractor

For tax purposes, a salesperson can work for the broker as

Negotiable.

Real estate commission rates are

Exclusive Right to Sell

The MOST commonly used form of listing agreement is the

An employee of the broker

The Real Estate Law treats a salesperson as