Questions and Answers
What does the Estate Agent Ordinance (EAO) define as estate agency work?
Introduction of a third person wishing to buy or sell property and follow-up negotiation
What liability does an estate agent bear as a broker?
Liability for misrepresenting the vendor's acceptance of the purchaser's offer
What duty does an estate agent owe to their client?
Fiduciary duty to act in a way that benefits the principal financially
What is the common law definition of agency?
Signup and view all the answers
What is the most important aspect of agency according to the text?
Signup and view all the answers
What is covered under the definition of estate agency work according to the Estate Agent Ordinance (Cap.511)?
Signup and view all the answers
What liability does an estate agent bear if they misrepresent the vendor’s acceptance of a purchaser’s offer?
Signup and view all the answers
What is the fiduciary duty of an estate agent towards their client?
Signup and view all the answers
What is the common law definition of agency?
Signup and view all the answers
What is the most important aspect of agency according to the text?
Signup and view all the answers