Agency
Which of the following would MOST likely terminate an agency relationship?
AThe agent going on vacation
BMutual agreement of both the principal and agent✓ Correct
CThe agent listing the property on the MLS
DA change in the property's listing price
Explanation
An agency relationship can be terminated by mutual agreement of both the principal and the agent. Other ways include completion of purpose, expiration, death or incapacity of either party, or breach by either party.
Related Arkansas Agency Questions
- An agent who gives a buyer advice about negotiating a lower price for a seller's property (without representing the buyer) is potentially creating:
- The fiduciary duty of 'loyalty' requires a listing agent to:
- Which of the following is NOT a fiduciary duty owed by an agent to their client?
- A seller's agent who also acts as a mortgage loan originator for the same buyer in the same transaction would most likely violate:
- An agent's fiduciary duty of LOYALTY means the agent must:
- Which of the following terminates an agency relationship by operation of law?
- An agent's duty of CARE requires the agent to:
- An agent who makes unauthorized commitments on behalf of the principal may create which type of agency?
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