Subagency in real estate refers to:
Why An agent who represents the seller through cooperation with the listing broker Is Correct
Answer B: An agent who represents the seller through cooperation with the listing broker
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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- A listing agreement that gives one specific broker the right to sell a property, but still allows the owner to sell without paying a commission, is a:Contracts
- A listing agreement is a contract between:Agency
- A cooperating broker who finds a buyer for another broker's listing, and acts as the subagent of the seller, owes fiduciary duties to:Agency
- When does an agency relationship typically terminate in a listing agreement?Agency
- Which type of listing agreement gives the broker the most protection and guarantees a commission regardless of who sells the property?Agency
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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