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a. Seller Chaney rejects three offers, all of which were $2,500 below the list price. raises a conundrum because the licensee is simultaneously acting in two capacities: as a buyers agent for the spouse and as an unrepresented principal requesting an incentive. A. actual fraud. Code REEB 24.05(5)(a).) Elected officials who deal in real estate in their county of residence. No, so long as the agreement was not an exclusive buyer agreement. Fairness. must be disclosed to lenders. A listing agent is a real estate agent, however this name specifically refers to an agent that is representing a seller who is listing their home for sale, rather than a selling agent who is representing a buyer. When does Susan earn her commission on the option contract? Therefore, the licensee would be acting as an agent of the licensees firm and the entity in which the licensee has an interest. B. o Chicago is $25,000 per person. One week later, Foster signed an exclusive agency listing with Broker Gary, who sold the home a few days later. After Jenny purchases the property, John demands his commission. C. State Legislature. Two brokers agree that each will market his services only in specific areas of the community. (Sections 475.278 (5) (a) and 475.2755, Florida Statutes) The broker's commission is any sale price in excess of a stated number. The seller has a right to: Cancel the contract without obligation to either buyer or broker. When the optionor and the optionee are brought together. In which type of listing is the commission least likely to be expressed in terms of a percentage? Select one: a. Select one: D. failing to disclose licensure when acting as a principal. Susan sells Tom's house to Pete. A. A Broker is NOT required to do which of the following? A. A property owner lists his property for sale with a broker. there is a FSBO property and an entity, and no licensees are providing brokerage services. 10 Things You Should Never Tell the Listing Agent On the date specified in the listing agreement Emerson signs a WB-36 Buyer Agency/Tenant Representation Agreement as a member of the LLC buyer and as a buyers agent on behalf of ABC Realty. Although it is technically not prohibited for a licensee to list their own property or to be the buyer, it is arguablydisingenuousfor the licensee to attempt to represent the seller and simultaneouslybe the buyer or be the seller and draft an offer for a buyer. Disclose what the seller will accept, with the seller's permission. a. Two. He was engaged by the owner at the time of the sale D. The qualifying broker must have had a brokers license at least five years. All of the following statements are true of buyer-broker agreements, except: Buyer-broker agreement terms may be disclosed to customers.