Real Estate Chapter 6 Quiz
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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