Exam 19: The Principal-Broker Relationship: Employment

Choose the one most appropriate answer for each. -if a broker acts counter to the principal's best financial interests, the employment is terminated and no commission is paid

A listing can be terminated by improper performance or ____________________ by the broker.

A broker has an exclusive right to sell listing with the sellers. The broker brings an offer to buy at the seller's asking price and terms from a capable buyer. At what point has the broker earned her commission?

Choose the one most appropriate answer for each. -listing utilized by buyer's brokers

Choose the one most appropriate answer for each. -a broker who deviates from the full-service concept of real estate brokerage and thereby charges lower commissions

A real estate listing

Broker Billy secured a written listing from a large company which owned an unused warehouse. Billy later entered into a verbal agreement to share his commission with cooperating broker, Cynthia. The cooperating broker procured a buyer, but later Billy refused to split the commission at closing. Cynthia could

Broker commissions for the sale of real property are usually based on

Under the terms of a multiple listing agreement, if a broker other than the listing broker sells the property, the seller may be responsible for paying two commissions.

A written, exclusive right to sell listing is most likely to specify that the commission has been earned upon procurement of a full price offer or upon acceptance of an offer by the seller.

The property owner is permitted to compete against the real estate broker in searching for a buyer if he signed an exclusive right to sell listing.

Which of the following listings provides the least protection of the broker's interests?

Under an exclusive authority to purchase agreement, the buyer becomes a principal.

Under an exclusive authority to purchase agreement, the buyer must pay the real estate commission.

A listing automatically will expire when the listing salesperson dies.

A licensed real estate salesman may lawfully receive a commission from

The broker is helping the home buyer obtain the lowest possible price. As agent for the buyer, the broker and the buyer have probably signed an agreement called

A typical exclusive right to sell listing requires the owner to

A broker lists a property and gets a sum from the seller as an advance deposit against the hours he spends marketing the property. This is called

In an exclusive right to sell listing