Real Estate U Chapter 2 Flashcards

To be responsible, safeguarding any money or property held on behalf of the client.

The seller or buyer agrees to dual agency before it occurs by indicating it on the agency disclosure form.

One who undertakes to transact some business or to manage some affair for another by authority of the latter.

<p>An agent that cooperates or is engaged by a listing agent or a buyer's agent to assist in locating a property.</p> Signup and view all the answers

<p>An agent who represents the buyer of real property.</p> Signup and view all the answers

<p>The one by whom a broker is employed.</p> Signup and view all the answers

<p>An agent is obligated to safeguard his/her principal's lawful confidences and secrets.</p> Signup and view all the answers

<p>A real estate agent who sells a property, may be the subagent, buyer's agent, or dual agent.</p> Signup and view all the answers

<p>Agents appointed in a firm to represent only the interests of either the seller or buyer in dual agency situations.</p> Signup and view all the answers

<p>The release of relevant information about a property that may influence the final sale.</p> Signup and view all the answers

<p>Representing both principals (seller and buyer) to a transaction.</p> Signup and view all the answers

<p>The principle which prevents a person from asserting something contrary to a previous action or statement.</p> Signup and view all the answers

<p>An actual agency created by written or oral agreement between the principal and the agent.</p> Signup and view all the answers

<p>The legal duty of a fiduciary to act in the best interests of the beneficiary.</p> Signup and view all the answers

<p>A person who transacts business or handles money or property on behalf of another.</p> Signup and view all the answers

<p>An agent with full authority over one property of the principal.</p> Signup and view all the answers

<p>An agreement between members of a trade to exclude others from fair participation.</p> Signup and view all the answers

<p>Agency that occurs when the words and actions indicate there is an agency relationship.</p> Signup and view all the answers

<p>An agreement to allow something to happen only after all relevant facts are disclosed.</p> Signup and view all the answers

<p>A person with authority to act for or on behalf of a landlord.</p> Signup and view all the answers

<p>An agent's duty to place the client's interest above all others.</p> Signup and view all the answers

<p>An agreement to refrain from competition in specific market areas.</p> Signup and view all the answers

<p>Making an intentionally false statement to induce someone to contract.</p> Signup and view all the answers

<p>The obligation of the agent to act in good faith and obey the client's instructions.</p> Signup and view all the answers

<p>Conspiring to establish fixed fees or prices for services or products.</p> Signup and view all the answers

<p>The employer of an agent or broker; the broker's or agent's client.</p> Signup and view all the answers

<p>The degree of caution and concern for safety an ordinarily prudent person would use.</p> Signup and view all the answers

<p>An agent who represents the seller of real property.</p> Signup and view all the answers

<p>An agent with limited authority to act on behalf of the principal.</p> Signup and view all the answers

<p>An agent of a person already acting as an agent of a principal.</p> Signup and view all the answers

<p>A licensed real estate agent who acts on behalf of a tenant in a commercial property transaction.</p> Signup and view all the answers

<p>A contract where one transaction depends upon another.</p> Signup and view all the answers

<p>A relationship where an agent represents both buyer and seller without their knowledge.</p> Signup and view all the answers