Under California law, all real estate salespersons must work under the supervision of:
Why A licensed real estate broker Is Correct
Answer B: A licensed real estate 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.
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- The California Agency Disclosure law (Civil Code §2079) requires an agent to provide the Agency Disclosure form to buyers and sellers at what point in the transaction?Agency
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- A California real estate broker's duty of 'accounting' to their principal requires the broker to: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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
State-Specific Concepts
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