Category A
Obedience, loyalty, and accounting for funds or property received is known as this type of responsibility of an agent to his principal.
What is Fiduciary?
There is no this type of agreement between a customer and a salesperson or broker.
What is NO Agency Agreement?
This type of agent has all authority to act for the principal.
What is Universal Agent?
This is referred to as "fair and impartial act" with appointees.
What is Intermediary?
This is the acronym used to remember the agent's duties to the principal.
What is OLD CAR?
This type of agent has an ongoing, broad scope of duties for the client.
What is General Agent?
This is the act of using or spending the commingled money.
What is Conversion?
This is known as placing funds belonging to others in a broker's personal bank account.
What is Commingling?
In an intermediary situation, this person is allowed to give advice and opinions. (two words)
What is the Appointed Agent?
The principal dying, the broker representing the principal dies, or both parties agree are all ways to do this to the agency relationship.
What is Terminated?
In an agency relationship, the agent has legal permission to do this on the principal's behalf.
What is Act?
The amount of this paid to the broker for selling a property is stated in the listing contract/agreement.
What is Commission?
What is Principal's Duties?
This is the relationship of a real estate broker to the owner of property listed for sale with the broker.
What is Special Agent?
This is another name for seller's representative or listing agent.
What is seller's broker?
In this type of relationship, the principal gives the agent the authority to act on his/her behalf.
What is Agency?
A real estate agent cannot write this for someone. (three words)
What is Power of Attorney?
A sub-agent can do this for a buyer, but does not represent the buyer.
What is HELP?
This type of agent is very specific and focused type of representation.
What is Special Agent?
When a real estate agent works as a this, that agent assists the seller and buyer in reaching an agreement but does not represent either the seller or buyer in the transaction.
What is Facilitator or Non-Agent Facilitator?
In a real estate practice, the duties of an agent are clearly this.
What are defined?
An agent to his/her principal does NOT have this type of fiduciary responsibility.
What is Legal or Legal Advice?
This is known as a non-factual or extravagant statement that a reasonable person would recognize as exaggeration.
What is Puffing?
This is what a principal of the transaction is known as.
What is Client?
Price-fixing, boycotting and allocation of customers or markets are common types of these violations.
What is Anti-Trust?