Question: Use the following data to answer Questions # 1 5 and # 1 6 ABC Realty is representing a seller in the sale of a
Use the following data to answer Questions # and #
ABC Realty is representing a seller in the sale of a property. A buyer saw ABC Realty's "For Sale" sign on the lawn of the property. The buyer called a salesperson at XYZ Real Estate and indicated a desire to see the property. The buyer indicates that he has read about buyer representation and would like the salesperson to be his agent. The salesperson explains that XYZ Realty has an agency policy of representing sellers exclusively, but the buyer shouldn't worry because he will do everything a buyer's agent would do anyway.
When the salesperson takes the buyer to the property, what will XYZ Realty's agency relationship be in this transaction?
A Single agency buyer representation
B Single agency seller representation
C Undisclosed dual agent
D Disclosed dual agent
What was the salespersons relationship with ABC Realty?
A Agent
B Client
C Subagent
D Finder
The salesperson tells the buyer that the seller has turned down two offers of $ This service is a
A customer level service to a buyer.
B client level service to a buyer.
C service that can be provided to both buyerclients and buyercustomers.
D service that cannot be provided to either buyerclients or buyercustomers.
A contract between the listing real estate brokerage company and a seller of a property is what type of agency relationship?
A General agent
B Special agent
C Universal agent
D Limited agent
Which of the fiduciary duties continues after the termination of an agency relationship?
A obedience
B reasonable care
C accountability
D confidentiality
Which of the following accurately describes designated agency?
A The broker, as well as all licensees in the broker's employ, represent both the buyers and the sellers.
B A licensee represents the buyer when showing another broker's listing.
C The consumer elects to benefit from the knowledge and experience of all licensees in the broker's employ.
D The broker is a dual agent, and one or more licensees in the broker's employ may represent the buyer. Other licensees in the broker's employ may represent the seller.
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