Unit 6 Real Estate Law Questions
Which of the following statements about brokerage relationships is TRUE in Maryland?
Dual agency is permitted only in brokerage firms consisting of three or more licensees.
Which of the following is TRUE about the Understanding Whom Real Estate Agents Represent disclosure form?
Failure to properly present the form constitutes a violation of the Brokers Act by the licensee.
Which statement about subagents (as shown on the Understanding Whom Real Estate Agents Represent form) is FALSE?
Subagents can represent the buyer.
Which of the following is NOT a duty agents owe to their principals?
Telling a buyer client that a family member of the seller has AIDS
Confidential information must remain confidential until
it becomes public information.
Which statement concerning representation is TRUE?
A branch manager, who is designated to be the dual agent, will select ICAs for each client.
When must a licensee present the UWREAR agency disclosure form?
At a first face-to-face, if the other party does not have representation
Mike has been selected by his broker, Mary, to represent a buyer for the purchase of a property listed by Angela. Both Mike and Angela are high performing salespeople with Mary's firm. In this situation, which of the following is TRUE?
Mike is the intracompany agent for his buyer; Mary is not a single-agency broker; and Angela is the intracompany agent for her seller.
Which of the following does a licensee NOT owe to a customer?
Obey lawful instructions
Which is TRUE when brokers handle the purchase and sale of the same residential property?
They may designation two intracompany agents if proper consent has been given.
Which of the following is TRUE of brokers when they represent buyers of real estate?
They must disclose this brokerage relationship to unrepresented sellers.
Brokers' principals are called
clients
