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Questions and Answers
What does the Estate Agent Ordinance (EAO) define as estate agency work?
What does the Estate Agent Ordinance (EAO) define as estate agency work?
- Interior design and decoration consultation
- Introduction of a third person wishing to buy or sell property and follow-up negotiation (correct)
- Landscaping and gardening services
- Property maintenance and renovation services
What liability does an estate agent bear as a broker?
What liability does an estate agent bear as a broker?
- Liability for property tax payments
- Liability for environmental impact assessments
- Liability for construction permits
- Liability for misrepresenting the vendor's acceptance of the purchaser's offer (correct)
What duty does an estate agent owe to their client?
What duty does an estate agent owe to their client?
- Duty to act without considering the principal's best interests
- Duty to disclose confidential client information to third parties
- Duty to prioritize personal interests over the principal's
- Fiduciary duty to act in a way that benefits the principal financially (correct)
What is the common law definition of agency?
What is the common law definition of agency?
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What is the most important aspect of agency according to the text?
What is the most important aspect of agency according to the text?
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What is covered under the definition of estate agency work according to the Estate Agent Ordinance (Cap.511)?
What is covered under the definition of estate agency work according to the Estate Agent Ordinance (Cap.511)?
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What liability does an estate agent bear if they misrepresent the vendor’s acceptance of a purchaser’s offer?
What liability does an estate agent bear if they misrepresent the vendor’s acceptance of a purchaser’s offer?
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What is the fiduciary duty of an estate agent towards their client?
What is the fiduciary duty of an estate agent towards their client?
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What is the common law definition of agency?
What is the common law definition of agency?
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What is the most important aspect of agency according to the text?
What is the most important aspect of agency according to the text?
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