The flashcards below were created by user
nleggett
on FreezingBlue Flashcards.
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Delegates to agent authority to represent principal
Principal
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Relationship between principal & agent
Agency
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Broker representing buyer or seller
Single Agency
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Broker of seller, appoints other brokers to
assist in carrying out client-based functions on behalf of principal (An agent’s agent)
Sub-Agency
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Care, Obedience, Accounting, Loyalty, Disclosure
COALD
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Authorized to negotiate contracts for another (Property Manager)
General Agent
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Authorized to rep a principal in one specific
transaction
Special Agent
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Rep both buyer & seller in a transaction, with
both consent (NOT legal in all states)
Dual Agency
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Buyer Agency Agreement
Buyer Agency
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(Non-agent or Facilitator) May NOT disclose
confidential information to either party
Transactional Broker
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Appoint agents w/I office to rep principal
Designated Broker
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Broker entitled to commission if after expired listing seller sells to someone agent originally introduced
Broker Protection Clause
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Selling & Buying Brokers work together to bring
two principals together
Cooperative Broker
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Misrepresentation of facts known to be false w/ intent of deceiving an agent
Fraud
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Opinion or exaggeration that no one relies on
for decision making
Puffing
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Conspiracy among brokers to set prices for their services rather than negotiating their fees
Price Fixing
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To sell one product only if buyer purchases another product
Tie-In-Areements
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