A contract by which a principal employs an agent/broker to do certain things for the principal, usually finding a buyer for his or her property, is called a

Chapter3Quiz

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Business
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University
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Medium
Jeffrey Travis
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Court order
Purchase offer
purchasing contract
Listing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In California a listing agreement
Is an employment contract
Must be in writing to be enforceable
Is both A and B
Is neither A nor B
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
although agents ordinarily represent owners and sellers, they may be employed occasionally to represent buyers in
Negotiating leaseholds
Obtaining mortgage loans
Purchasing business opportunities
All of the foregoing activities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the type of listing in which the owners would be held liable for a commission even if they themselves sold the property is called a(n)
Exclusive agency listing
Exclusive right to sell listing
Multiple listing
Open listing
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The listing which is most likely to give rise to charges of misrepresentation or fraud is the
Multiple listing
Open listing
Net listing
Exclusive listing
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Pocket buyer" refers to a buyer
With deep pockets, meaning lots of money
Who is prepared to buy a property before it's listed with a broker
Who is a friend or relative of the broker
All of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A "safe harbor" clause is usually found in the most preferred type of listing, which is the
Open listing only
Exclusive right to sell listing
Net listing
Multiple listing
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