section 4 unit 3 exam

Which of these situations is an example of designated (appointed) agency?

Jacob, a broker, acts as the dual agent and appoints mark to represent the buyer and Todd to represent the seller in the same transaction.

Madeline works for a single-agency firm. If she wants to represent both the buyer and seller in a transaction, what must she do?

She can't do this at her firm.

Beverly, a real estate licensee, doesn't represent either party to a specific real estate transaction. She merely helps the parties handle the paperwork. What role is Beverly taking in this transaction?

a transactional broker

which one of the following provides the best example of single agency ?

an agent from one firm acts as the agent for the buyer

Single agency firms prohibit their licensees from doing what?

from representing the buyer and seller in the same transaction

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 sub agent and owes loyalty to the seller

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, its illegal

Monica's business is booming. She's representing an owner who's selling a $500,000 home on one side of town, and a buyer who's purchasing a $300,000 property on the other side of town. As it happens, the seller and buyer both know each other from church and have been talking to others about Monica's talents, which has brought in several new leads for her to pursue. What type of agency relationship does Monica have with the seller and buyer?

she's each party single agent