unit 4: responsibilities of agents

A licensee has several tasks to perform for seller clients. What's one of those tasks?

Communicate all offers and counter-offers to the sellers.

A licensee must perform which of the following tasks for a buyer client?

Ensure the buyer understands the importance of due diligence, including a professional inspection of the property.

Jason is the seller's agent. His seller has a leaky roof he'd rather keep secret from buyers. What should Jason do?

Inform the seller that the roof leak is a material fact that he is obligated to disclose to buyers.

Camille has a listing for a townhome, and appoints Ivy as her sub-agent. Ivy brings a buyer customer to the transaction, and the buyer purchases Camille's listing. What's true about the agency relationships in this situation?

Ivy is Camille's sub-agent and owes loyalty to the seller.

Buyer Kristin has a buyer agency agreement with Carlotta, a licensee. Kristin's brother, Dalton, is going to showings with Kristin and helping her decide which house is the best fit. Who is/are Carlotta's client(s)?

Kristin

Which of these is an example of a sub-agency relationship?

Morris, who's licensed independently, finds a buyer customer for Greg's listing with Marvel Homes and is obligated to act in the best interest of Marvel Homes' client.

In which of these situations has the licensee compromised the duties of loyalty and disclosure?

Nate didn't tell his client about a conflict of interest related to the sale of his client's property.

Frieda is practicing dual agency, and neither party seems to mind, even though she didn't obtain written informed consent. Is this legal?

No. Without informed consent, it's illegal.

Which of the following is a buyer's agent's task or duty?

Representing the buyer's interests

Mavis is a buyer's agent working with Blaine, an unrepresented seller. Mavis's buyer, Cintra, makes an offer on Blaine's property. Mavis assists Blaine with the paperwork. What's Mavis's relationship to the parties?

She's an agent to Cintra, and the seller is her customer.

If you represent the buyer and seller in the same transaction, what type of agency relationship do you have with your clients?

Single-licensed dual agency

Licensee Randy has a written listing agreement with Brent, a seller. The buyer is Tim. Who is Randy's client?

The seller (Brent)

Assuming that dual agency is legal where these scenarios occur and that the licensees' brokerages permit it, which of these situations demonstrates illegal dual agency?

Tom is holding an open house for his client. Ruby, a buyer, says she wants to make an offer. She details her situation; Tom waits until she finishes and then suggests that she offer a non-refundable earnest money deposit to strengthen her offer.

Orla represents the seller, and Pardeep, an agent from a different firm, represents the buyer in the same transaction. What type of agency relationship does Orla have with her client?

seller agency