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18 Cards in this Set
- Front
- Back
Being an agent means you can |
Act on the behalf of some else |
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What is an agent? |
Some on authorized to act on the behalf of another (principle) |
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The capacity to act as an agent is called |
Authority |
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How can authority be created? |
1. Express authority - stated or expressed, tell some one |
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What are the types of authority? |
1. Actual |
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Usual authority is |
customary authority |
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What does the principle owe to the agent? |
1. pay the expenses of the agent |
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What are the duties of an agent? |
LISA D |
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How do you end authority |
- take it away |
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Council protection is |
- contract to list with agent, it wont be aloud to be listed by anyone else either |
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Buyers agent does: |
finds properties for the buyer |
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Sellers agent does |
Lists the house |
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Listing types are |
Exclusive |
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Open listing means |
You put it up for sale, you tell people to come make an offer, if some one brings you a buyer, you cut them in |
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Exclusive listing is |
Not on MLS - sell in your own network |
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Multiple listing |
Goes on MLS - shared comission |
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Commission percentage is |
- anything you agree on |
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Dual agency means |
both buyer and sellers agent is from the same brokerage |