Reference no: EM132208957
1. "Reasonable care and skill" in real estate agency duty refers to
professional standards a reasonable person would find adequate.
professional standards commonly maintained by other agents in an area.
the level of service required of a licensee in any profession.
the maximum level of competence a client can expect from an agent.
2. Which of the following accurately characterizes an 'adverse fact?'
A property condition fact that was concealed from the buyer
A transaction occurrence or fact that adversely affected the principal's negotiating position
A physical property condition that adversely affects the property's value
A negative property characteristic that cannot be remedied
3. In practice, if you are a facilitator, which of the following is true?
You do not have a signed agency agreement with the seller or buyer.
You may not work with a designated agent representing a seller.
You are bound to fiduciary duties owed the client.
Your broker may or may not be a facilitator on that transaction.