Brokerage
Basics
Basics
This signed written contract establishes a brokerage relationship with a consumer.
What is a listing agreement or buyer/tenant representation agreement.
Licensees represent clients but provide this type of help to customers.
What is assistance?
A sellers willingness to accept less than the asking price is this type of information.
What is confidential information?
These two agents within the same firm are assigned separately to the buyer and seller.
Who are intracompany agents (ICAs)?
UWREAR stands for this name of Marylands brokerage relationship disclosure form.
What is Understanding Whom Real Estate Agents Represents?
Residential brokerage relationship law covers property improved by this range of single-family units.
What are 1 to 4 units?
This fiduciary duty requires putting the clients interests first.
What is loyalty?
This duty continues after settlement and protects a former clients private information.
What is confidentiality?
This is the minimum number of separate licensees needed for Maryland residential dual agency.
What is three? One dual agent and two ICAs.
Existing representation must be disclosed at first contact using this communication medium.
What is the same medium used for the initial contact? For example, respond to an email inquiry with disclosure by email.
According to the text, residential leases must exceed this number of days for residential brokerage relationship requirements to apply.
What is 125 days?
Unlocking a property for an inspector without offering advice or negotiating is this type of act.
What is ministerial act?
Unlike confidential personal information, these significant property facts must be disclosed.
What are material facts?
Only the broker or this designated person may serve as the dual agent.
Who is the designated branch manager?
Except for the separate open house procedure, the UWREAR form is presented at this first meeting with an unrepresented party.
What is face-to-face contact?
According to the text, a listing or buyer angency agreement cannot exceed this length of time.
What is 1 year?
Preparing a CMA to advise a client making an offer or negotiating inspection repairs is this type of act.
What is magisterial act?
A potential seller reveals private financial information during a listing interview, then hires another firm. The interviewed licensee still owes this duty.
What is confidentiality?
When both intracompany agents belong to the same team, this additional notification form is required.
What is Notification of Dual Agency Within a Team form?
This Maryland Real Estate Commission sign must be conspicuously displayed at an open house.
What is the Open House Disclosure sign?
A buyers agent receives an authorized commission payment from the seller. The agent still represents this party.
Who is the buyer?
✨DOUBLE JEOPARDY✨
Name all six fiduciary duties represented by COLDAC.
Care
Obedience
Loyalty
Disclosure
Accounting
Confidentiality
Name the two circumstances described in the text that allow disclosure of otherwise confidential information about a former client.
What are written permission from the client/former client, or the information becoming public knowledge from another source?
✨DOUBLE JEOPARDY✨
The second signature on the dual agency consent form affirms consent at this stage, before the sales contract is signed.
What is at the time of an offer?
Before discussing competing properties during an open house, the host must obtain this from the seller.
What is sellers written permission?